Inflation first eats into the cost savings the global economy generates through deflation long before it appears in the cost of the prices you pay, there are so many downstream effects to cut costs, unsafe working conditions, harmful chemicals that affect staff and the immediate environment, longer working hours, and eroding of 3rd world savings to encourage dollar imports,

Its such a perverse system, with some of the weirdest trade-offs as people chase the incentive that is higher nominal returns