Yes, inflation is a temporary phenomenon, and it can go down over time.
However, it requires the efforts of the government, central bank, and other stakeholders to control it.
A government can take various measures to reduce inflation, including fiscal and monetary policies.
These measures help in stabilizing prices and reducing inflation over time.
Fiscal policy involves the government’s use of taxes and spending to manage inflation.
The government can decrease its spending and increase taxes to reduce the amount of money in circulation.
This reduces demand for goods and services, thereby reducing prices and inflation.
However, this approach is often unpopular, and it can negatively affect the economy by reducing economic growth.