To be fair, we weren't importing as many finished goods then, therefore we weren't competing in a global marketplace. If prices stayed the same temporarily, it wasn't a big deal.

Price controls cause shortages and rationing.

Edit: It's a pretty well-known concept that price controls cause shortages. Look what happened to communism. They said there was no inflation and prices were fixed forever. If a liter of milk is set at 1 rubble, and farmers can't make money at that price, milk selection reduces, or could even disappear.

Everybody in the supply chain has to make money, otherwise the chain breaks.

What America actually looked like being great.