Yes, it correlates, but deflation is not really the cause behind the rise of the Nazi party. Did you ever wonder why Hitler hated jews so much? Why antisemitism became very popular? Let me give you a hint, it had to do with banks, who ran them, and who owned almost all the wealth, along with a decade of economic woes for most folks.
According to Arthur Bryant the British court historian writing in Unfinished Victory (1940 pp. 136-144):
"even in November 1938, after five years of anti-Semitic legislation and persecution, they still owned, according to the Times correspondent in Berlin, something like a third of the real property in the Reich. Most of it came into their hands during the inflation.."
How could a British journalist know, with any degree of credulity, what share of the national wealth was owned by Jewish people in Nazi Germany in 1938? The same government that massacred millions of Jews a few years later would have happily lied about Jewish wealth to justify their actions.
Anyway, here’s [0] an article that disagrees with Bryant’s stated claim.
According to Arthur Bryant the British court historian writing in Unfinished Victory (1940 pp. 136-144):
"even in November 1938, after five years of anti-Semitic legislation and persecution, they still owned, according to the Times correspondent in Berlin, something like a third of the real property in the Reich. Most of it came into their hands during the inflation.."