100% this but the macroeconomics of it are simple, by pushing low interest housing and food goes up astronomically so the economy ends up with the backbone of the labor force (>$20/hr) being priced out of everything.
The only fast solution here is subsidizing living which many governments are doing but it won't fix the problem they created in the first place and now they have to deal with either dramatically raising rates and saddling the people with horrendous debt due to bond yields and defaulting, etc or riding it out and lying about real inflation with small raises.
The only fast solution here is subsidizing living which many governments are doing but it won't fix the problem they created in the first place and now they have to deal with either dramatically raising rates and saddling the people with horrendous debt due to bond yields and defaulting, etc or riding it out and lying about real inflation with small raises.