> Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output... A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. It will not produce perfect stability; it will not produce heaven on earth; but it can make an important contribution to a stable economic society.
Increasing the money supply by a great deal doesn't always lead to inflation, but nearly every case of extreme inflation coincided with a large increase in the money supply.
The government printed too much money, effectively making it worthless. It's like trying to get more pizza out of a pie by slicing it into more slices. This also increases transaction costs and destroys value. To give a silly example: imagine if you're running a store and the price of your goods changes every hour. You'd have to pay someone to constantly go around w/ a price change gun and update the prices in a continuous loop