Most people realize correlation does not prove causation. So, it might not come as a total surprise to learn that while printing money and expanding debt is accompanied by inflation, we can find inflation in other places, even when there is no money or bank debt. Money is a common factor in an inflationary economy but it is not a causative agent because inflation exists independent of our monetary systems. It hardly needs to be said reining in the ability of a state to print money or increasing interest rates to stop borrowing, is not going to hit inflation where it needs to be hit.