inflation and how to curb it

the fresh inflation fears as have been reported in the press recently, lead us to consider that the current methods of addressing inflation, namely increasing the interest rate, may need readdressing.
Before looking at alternative measures to curb inflation, lets look at the effects of inflation:
causes a rise in people spending.
this causes a rise in investment as people are afraid of losing purchasing power in savings, so turn it to real value.
causes increases in wages etc although this is generally not consistent with the inflation.
international trade will suffer as inflation pushes up prices, meaning people will look abroad for cheaper goods, meaning that the import>export.
Her Majesty's Government slyly slips in a few "stealth taxes" so as to disinflate the economy.
and costs will be incurred by businesses as they need to reprice regularly eg print new price tags.

so how to address inflation...well firstly lets understand that a little inflation is good as it allows a little growth, as well as making wages to rise, which generally speaking dont ever get bargained down. The popular way is to get the Central Bank such as the Fed Reserve or the Bank of England to hike up interest rates thus promoting savings and reducing the velocity of the money (how quickly it changes hand)and thus prices. This could have the adverse effect that as many people have debts, their expenditure increases with a interest rate rise, yet their cutting out of unnecessary items still doesnt meet the usurious rates, so the wages have upward pressure applied and this would fuel inflation itself.
Another option that i heard the Chinese recently use, was to raise the reserve money that banks have to have, which reduces money velocity and inflation and hence prices, yet doesnt raise the debts of the public or harm the balance of trade of the country.

the question for this post is: What other methods could be used to curb inflation?