And then businesses start competition for the customer with pricing pulling that inflation down. No one will start new business or start adjusting existing in context of stimulus money to make prices competitive because they know this spike is just a temporal glitch. Business was rather interested in raising prices to get more in the face of supply shortage. Showed good corporate profit numbers.
Stimulus checks are nowhere close to ubi from person's and business perspective, I would not extrapolate observations from one to another.
I argue against this in that I don't think anyone was acting with such precision. This was an aggregate effect of money supply increasing dramatically. There would no doubt be a spike in prices upon the rollout of UBI, but maybe it would level off over time. My fear is that it would raise the water level permanently and the new price baseline would negate the benefit of UBI.