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The econ 101 explanation, which I believe is pretty much correct, is that we always want some inflation and never want deflation. Deflation means that cash just naturally accrues value - the $100 in my hand today is worth more tomorrow if I don't spend it. So I don't spend it unless absolutely necessary. And if everyone does this, then the economy slows down, there's less growth, and everyone suffers from the fewer goods being produced and services being rendered. Inflation has the opposite effect, where currency constantly loses value; so the most value you can get out of that $100 is right now, which puts pressure on you to look for the right opportunity to trade it for a useful product or service right now.
Of course, too much inflation is well known to cause serious issues. Income tends to be sticky and laggy - most people's salaries aren't pegged to inflation, but rather get raised once every period of time, and so if inflation is very high, then most workers suffer. Which is kinda what happened the last few years. This is why the US federal reserve's dual mandate includes hitting a 2% inflation rate - it's positive, but not so positive as to cause issues, at least most people seem to think so.
So eventually, yeah, a loaf of bread will cost a million dollars. If a loaf of bread were to cost $2 today, then at 2% inflation, that'd take a little over 660 years. Much like how movie tickets cost a literal nickel like a century ago and cost $15 today. But the idea of inflation is that, when a loaf of bread costs $1,000,000, the average income will also be (1,000,000/2)*(average income today), so things will remain the same in relative terms. In practice, it doesn't work that perfectly.
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