>These companies raising prices would be inflationary in and of itself.
Sure, but there are scenarios where this would be profitable and scenarios where it wouldn't be, and we expect the former to occur when there's been an exogenous debasement to the currency. Inflation is measured from a change in prices, but that does not mean that the exogenous factors which rationalize price hikes are not fairly characterized as the cause of inflation - "greed" or "profit seeking" do not have any narrative value here since there's no covariance between these phenomena and actual observed inflation. And no one seriously expects a company to not raise prices when a currency is debased anyways.
Sure, but there are scenarios where this would be profitable and scenarios where it wouldn't be, and we expect the former to occur when there's been an exogenous debasement to the currency. Inflation is measured from a change in prices, but that does not mean that the exogenous factors which rationalize price hikes are not fairly characterized as the cause of inflation - "greed" or "profit seeking" do not have any narrative value here since there's no covariance between these phenomena and actual observed inflation. And no one seriously expects a company to not raise prices when a currency is debased anyways.