Inflation is covert politics. As everyday items - especially including housing - become less and less affordable, the political system looks more and more like a plutocracy with power concentrated within an oligarchy, and less and less like a democracy.
That's the baseline reality. The rest is just misdirection and handwaving.
If this seems implausible, consider that the governor of the Bank of England recently said that workers should be "consider carefully" whether they wanted to pursue pay rises, while at the same time the energy monopolies in the UK are threatening to put 40% of the population into fuel poverty by massively hiking prices during a time of record profits.
And the Bank's own senior staff are receiving huge pay increases.
The baseline reality is that there is not enough fuel being produced globally to support people's current levels of consumption, for reasons that have nothing to do with energy monopolies in the UK. Years of environmental campaigning in western countries and optimistic beliefs about a green revolution meant that new production hasn't been coming online. Then a couple of years of Covid lockdowns followed by nasty whiplash as factories tried to make up for lost production and consumed more energy than usual ate up the remaining slack, and everyone trying to switch away from Russian gas after they invaded Ukraine made things even worse. There's some reason to believe that fuel producers in totalitarian dictatorships are deliberately making this worse for profit and political gain, but there's not much that can be done about that.
This explains everything that you're chalking up to some conspiracy by plutocrats. The massive price hikes which make fuel unaffordable are because there's not enough being produced to satisfy demand at the original pricing, and fuel demand is price inelastic enough mean that large price increases are required to get fuel consumption down to a level that can actually be supplied. Profits are at record highs because the money has to go somewhere, and it's going to those who did invest in fuel production (an action we probably do want to reward, since having more production makes us all better off). The Bank of England is worried about workers pursuing pay rises on a large scale since this won't make people better off in real terms - it does nothing about the underlying supply limitation that actually affects how much people can afford to consume - and it will make inflation worse, which is something they'll have to deal with, probably with consequences that will make workers worse off in real terms judging from past experience.
That's the baseline reality. The rest is just misdirection and handwaving.
If this seems implausible, consider that the governor of the Bank of England recently said that workers should be "consider carefully" whether they wanted to pursue pay rises, while at the same time the energy monopolies in the UK are threatening to put 40% of the population into fuel poverty by massively hiking prices during a time of record profits.
And the Bank's own senior staff are receiving huge pay increases.