That is an overly simplistic concept of inflation, where simple currency supply, "printing money," is at fault.

In modern time, since the government not only controls the supply on our completely un-cacked money, but it also controls most of the entire national economy of markets through ever expanding regulatory glut, through absorbing debt from the system in various ways, like "purchasing" bonds, expanding the deficit, and increasing un-backed government spending, as well as through wealth redistribution by tax revenue usage policy, inter-banking loaning rates, and every policy change, by its effect on the nation's domestic economic production (of which the impact of government loaning or debt holding affects).