This was an attempt in Roman times to put price controls in place to combat inflation. it has been tried many times since then and now we have the UK government introducing price controls:
If any government wants to stop inflation then they could do the by stopping debasing the currency
Guaranteed outcome: Scarcity!
I do not think they understand the concept of “price caps” if they are going to be voluntary. Of course they won’t work if they’re involuntary either, so there’s that.
One way they held down food prices was importing cheap farm labor from eastern Europe. Can’t do that anymore, thanks to BREXIT.
During the worst of the plague, farmers were recruiting city residents, who had been laid off, to do the farm work. Presumably, the city people have gone back to their regular jobs.
Maybe the Brits will resort to child labor, like Shiny-land is.
That would also impoverish entire nations. It would create deflation. Factories would run their product costs towards zero because over time factories become more and more efficient. We would produce ourselves out of existence with no money to show for it.
This has become an almost religious discussion, devoid of clear meanings and echoing with notions myths and fears.
Debasement has a meaning, but it is not anything like what is going on with the Fed or Treasury.