Um, no, as exhibited by the current inflationary trend, which, as we all know, has been caused by consumer demand and the resulting price gouging by corporations trying to take advantage of it.
It started with the Great TP Crisis of 2020 when people started stocking up on, well, everything when the Covid Lockdown of 2020 began. Then there were the shortages as production was constricted due to the pandemic. Then as that eased and things began to return to normal, people begin spending again and pent up demand coupled with an already decreased supply started pushing prices up. This was initially tolerated with businesses as had to make up for taking losses during 2020 -21, but then that provided the excuse for price gouging from said businesses and thus the increase inflation we've been seeing.
The only impact on that from government was the stimulus checks, the last one seen in retrospect as a mistake as it boosted spending as intended but unfortunately boosted prices as unintended.
In other words, inflation, as we see it now, is a natural consequence of Capitalism. Supply and demand. If consumers stop demanding, prices will start lowering.