What happens is that it is very difficult for the impact of inflation to decrease, most governments are the ones that want to obtain more liquidity and in return they do not mind devaluing a little to obtain what they need, obviously this is the case of many Latin American countries, but really the problem has worsened not only in Latin America, I know that in the USA they have liquidity problems and that one of the things that is impacting Americans the most is inflation, which although they have the dollar which is by nature In history, the one that maintains a global hegemony is falling more and more, this can trigger more economic problems not only there but also in the surrounding countries that depend on the debt they maintain.
USA is not printing enough money, that's the problem. They are "printing" in the sense that it is sent to their bank accounts so there is money floating around somewhere but the money in cash form is not in your hands, it's in check form and then in your bank account and then you pay your bills or buy something from amazon or whatever and money moves from bank account to bank account and majority of it is not in cash form.
Inflation happens when you start to reach a level where your cash reserves is not enough to cover the debit people have and that is the problem with banks right now. We all know how we can't all withdraw our money from banks all together, if we do then banks won't have enough cash and can't pay us and will bankrupt, but if a government does that then the financials of a whole nation drops like crazy. USA is having that problem right now.
