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The main ways to solve inflation is through setting monetary policies and price control but there are also some less popular ways to solve inflation.
The US Federal Reserve System plays an important role in setting monetary policies to solve inflation. The Federal Reserve can use traditional methods like setting high interest rates or using unemployment and declining production to slow or stop rising prices.
Although the monetary policies set by the Federal Reserve help solve inflation, there is still some ongoing debate as to how the policies should be used. While some economists want the money supply to be decreased, there are others who advocate the overall reduction of demand through fiscal policy like higher taxes or reduction in government spending. There are still other economists who believe that the exchange rate needs to be fixed so that the rate is tied to a reference currency like gold. These economists believe that in a floating currency economy, there can be a reduction in marginal tax rates so that capital formation is encouraged.
While some economists argue that changing the monetary policy of the nation is the best way to control inflation, there are others that insist that controlling prices is the way forward. The economists say that price supports are used to set minimum prices and therefore, they help to prevent deflation and allow continued production of certain goods. This theory is not supported by many economists since there are many counterproductive effects to it.
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A lot of research has been done on inflation and collective bargaining. While most of us know what inflation is or we have the basic idea of what is inflation, collective bargaining is something not everyone is aware of. 
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