Money supply up Goods in the economy constant Inflation(CPI) higher What part of that don't you understand?
And what is bad about that? If two countries both have equal inflationary pressures, then the standard of living in both countries lowers the same amount. If one of those countries imports more of their consumption from foreigners, the standard of living will fall faster than the country with less imports. If every central bank is inflating their currencies, then inflation has less overall effect on living standards. There is more money available and prices go up, about equally throughout the markets. Problems start to occur when one country inflates their currency relative to their trading partners.
Frostie is right. You have to look at inflation against what. Not speaking inflation as a general sense. For example, if everything double, your salary, food price, etc...., the only loser are bond holders, cash holders. Anyone holding asset will still be fine.
Inflation is a killer for people that have been saving. It will only benefit people/entities with careless behaviour whose life is based on borrowing, ie governments among others. If you have any form of savings (ex houses) you will be the loser in the soon to be created hyperinflation/currency debasing new world. One of the biggest wealth transfers is about to occur. It will result in the pauperisation of savers to the benefit of borrowers. UK savers or pound holders have 12 months to act before they start losing out. If you are a UK saver, plan your retreat NOW