I'm adding to the the discussion cause we have very smart people here with very good assessments on what the implications are for basic income. I had to chime in to clear some of the speculation on the arguments brought forward. I'm not for or against basic income at the moment but I want to make sure we are all on the same page on what inflation is and the basics of economics.
Inflation is simply the influx of money that causes the "value" of ALL goods/services to increase. This is due to the increase of the money supply which decreases the value of the currency. I emphasize that it is the value of ALL goods/services not just one or a large number of sectors.
When we see prices rise up in goods and services in one area it isn't inflation because it is in one area of the economy.
Another misunderstood axiom of economics is that a market is based on finite resources. If goods in one area of the market increase then somewhere else across the economy the value of goods and services decrease.
Now the misinterpretation of inflation and price hikes happen due to one variable, time. The time it takes for price hikes in one area to affect another is what gives the perception of inflation. But when the value of groceries significantly increases then I assure you people are going to eat out less. It just takes time for the sectors to affect on one another.