The 70s and 80s were an anomaly with respect to the Baby Boomers and having such a huge additional influx of American citizens — who were as prosperous, and ready to work and spend — into the workforce. There was no other period like it.
IMO, these demographic changes were the primary reasons behind the inflation of that time, though some would also point to Nixon’s dropping the gold standard for the dollar, too. It was a volatile mix.
