system
Given the following post, respond as if you're commenting on Reddit:
human
Why are price controls not seen as a legitimate way of dealing with current inflation issues?

In most parts of the world, central banks are responding to inflation issues by increasing interest rates. To me, this seems to hit the middle and lower classes the hardest, by increasing their biggest expenses (mortgages). People can just buy less when products become expensive, but you can't really reduce loan payments without severe consequences.

Why don't central banks consider price controls, especially on less elastic goods like food, as a strategy for dealing with inflation? What am I missing? Also, are there any economists that do advocate for alternative solutions to increasing interest rates?
gpt
Changing interest rates ultimately changes supply and demand. To be precise, the goal is a downward shift of the demand curve.

Price controls don't change supply and demand, they only increase the quantity demanded and decrease the quantity supplied (movements along the demand curve, not of the curve itself), causing shortages.