Since implementing the APF - Alaska's quasi universal basic income - Alaska has experienced no spike in inflation, and notably, had lower inflation than the rest of the United States.

“Some further evidence we can examine is Alaska’s inflation statistics. Alaska has had a universal basic income via the Alaska Permanent Fund Dividend, which has provided each resident between $500 and $3,000 per year funded by state oil assets, since 1982. Since implementing that program, Alaska has had lower inflation than the rest of the United States, whereas before it had equal. While no formal causal study has yet confirmed whether this supports the potential “deflation” effect of universal basic income I discussed earlier, it does provide suggestive evidence that it is possible and that a US-based universal basic income would not cause significant inflation. We can also appreciate the post-transfer deflation from Kuwait, where Kuwait granted a $3,500 transfer to all its citizens in 2011.”

empirical