Some analysts argue that strong democracies should experience lower inflation because democratic accountability restrains monetary misuse. Yet Estonia, a high-democracy, low-inequality country, had higher inflation than Senegal, a low-democracy, high-inequality country. Since inequality levels differed sharply, the Estonia–Senegal comparison alone may be misleading.
Proposed Conclusion: The cross-country inflation difference is better explained by inequality differences than by democratic strength alone.
Question: Is the proposed conclusion logically correct?