Here is where most or all of inflation comes from: bank loans. When a loan is being consummated, the promissory note or mortgage note is considered to be a negotiable instrument - https://www.upcounsel.com/is-a-promissory-note-a-negotiable-instrument. Such notes are considered to be money by the bank. The borrower actually funded his own loan with the promissory note. This goes for all loans made to government or anywhere else. The Federal Reserve Bank prints 'green cash money' as needed, to replace money dished out in the form of loans. More money is inflation. In other words, it is borrowers (mostly government), along with the banks, that create more money, thereby causing inflation.