It just doesn't work that way. Price competition is still a thing. Businesses will be just as happy to have more customers at their current prices. Money from those extra customers will find it's way back into the economy, to lawyers and accountants and programmers. Economists are far from certain as to whether rising wages drive price increases, or rising prices drive wage increases. There's no reason to assume that prices will rise linearly.

Multiple studies have shown that it's better to give people money and let them decide how to use it than it is to create layer upon layer of social programs. We can figure out how much 'basic' housing, food, medical and child care cost and give everyone that amount. They can figure out how best to use it to suit their individual needs.