The mistake would be thinking this is something new, money has been devalued many times previous.   We're just repeating things here and the technology and some terms are new due to sophisticated markets but the base idea to create new money is not new and I presume all the effects will follow historical precedent also.

Is the expansion of the monetary base.   Prices will always vary, by season and supply and demand but that does not reflect the value alteration of the dollar itself.   Problem is modern economics teaches many different things now, I'll just say the simplest you can get a rule the more likely it will be true.   So thats it for me, just that first sentence is enough to describe it.   Fractional reserve will alter the amount of currency in circulation according to monetary velocity I think so its a confusing subject, our view is not clear.    Statistics and hedonics will adjust raw price data to reflect inflation as measured and reported by government, technology does account for alot of why inflation has not been reported as a problem thus far.   

My take is we diverged from capitalism a long time ago and this is the tail end of that game perhaps this virus forcing a natural contraction has lit the touchpaper because you cant really fail to acknowledge that loss.   I dont know how long it'll take till we reach the end game and some kind of reset but hopefully not too long or it'll just add more waste.