The cost of goods and services rise and fall. They don’t Inflate and Deflate. What Inflates and Deflates is the Money Supply, which is controlled by Government.
Inflation of the Money Supply is what causes prices to rise, because the more dollars that are created, the less each one is worth.
The Government has inflated the Money Supply by many trillions of dollars in just the last few years (under both Trump and Biden). But the Government never admits blame for anything; it always tries to blame someone else, e.g., Putin, greedy corporations, China, etc.
But it is Government that is the problem. It is out of control! We need to rein it in!