Generally speaking, in a “normal” economy there cannot be a situation where prices would rise across the board. For example, if due to objective reasons the prices of some goods that are hard to stop consuming in the medium term (for example, gasoline) have risen, this means that the consumption of other goods will decrease, people will economize to obtain the more important good.
When prices rise across the board, this means that the government is printing money.
Inflation not only redistributes benefits in favor of the first recipients of new money, it also slows down and distorts the processes of self-cleansing and regulation of the economy. Unprofitable businesses continue to operate, as thanks to inflation they have the appearance of profit.
Generally speaking, the inflation factor is the most important in this discussion. If by some miracle our government lost all ability to produce and borrow money, then within a year we would have revolution, and within ten — Hong Kong with Singapore.
To conclude this note, let us note that the cheapness of life does not depend on political system, democracy, autocracy, or anything else, it does not depend on consumption habits and even does not depend on culture. A cheap life will be in that country where the government does not fuss, that is, where entrepreneurs work calmly for a long time and can forecast their activities.