Government institutions, including central banks, have long been responsible for increases in the cost of living. But the burden often falls most on those who are just starting out in their adult lives.
Allowing the market to operate with minimal government intervention has helped Chile become one of the freest and wealthiest countries in South America, especially when compared to its direct neighbors.
There is productive consumption and there is non-productive consumption. In the Keynesian mind, it's not necessary to produce anything, so long as people spend and consume endlessly, even to the point of destroying real wealth.