Not really... The economy is more and more controlled by a hand full of large multinationals. So if one corporation has 90% of the market (using different brand names to fake competition), they can raise the price far beyond just supply and demand. In the end we all need food and Healthcare etc. When you have the option of paying way to much (for some medicine) or dying, you can't really say no, right.

Yes, vut with the supply being almost literally just a printer. Typically 2% inflation are intentionally targeted to prevent deflation (which is also not good).