The money actually has to be spent on real goods for which supply is inelastic for this to happen. If it's instead saved or used to pay taxes it won't cause any inflation.
I suppose the increased savings means there more potential for the private sector to cause inflation if everyone decides to dissave at once, but that's sorta a last resort.
I suppose the increased savings means there more potential for the private sector to cause inflation if everyone decides to dissave at once, but that's sorta a last resort.