One of the easiest ways to resolve this problem is artificially increasing supply. The government can subsidize the production of food, housing, medical care, and education. It doesn’t matter if people have more money if the supply of a good is always high. Having the government be a provider of these goods in monopolistic of inelastic markets would also be a good idea.

I don’t think UBI should be implemented tomorrow. Subsidizing things today would be a much better first step. Several years of increasing supply and then starting UBI is a better bet.