Ludwig von Mises and Friedrich Hayek saw inflation as a monetary phenomenon caused by government actions. They argued that inflating the money supply devalues the currency, distorts economic signals, and leads to long-term economic harm. Both were critical of using inflation to finance deficits, viewing it as a destabilizing force.
In soft words 😅 

 When money represents your life, your productivity, your value; inflating the money supply devalues your life — you’re just another cog in the machine ready to be replaced. It truly is a fraud and the greatest destroyer of human prosperity ever.