Monetary inflation cannot stop at this point due to the debt that has to be repaid and is being added to daily. But prices going up or down (price inflation/deflation) are dependent upon consumer demand - what the market will bear. Its very hard to force people to buy what they don't want or cannot afford. This is the issue. If there is less activity in the economy there is less taxation through the velocity of money. In order to pay for everything that the government is doing and while transactional velocity is decreasing then taxes have to go up to pay the debt. It's to the point we have a catch-22 - how do you pay for continuing government spending with lower tax revenues.You stop inflation by dramatically reducing Federal government spending. The Federal government cannot quit spending meanwhile beating the citizens to death with inflation AND high interest rates.
The government isn't going to stop spending, because the politicians are not voting for the benefit of the people or the country. So we are not getting off the ride until it reaches its natural conclusion.
If the US loses reserve currency status, all bets are off.