According to the interest rate effect theory higher prices will lead to lower GDP demanded because firms will spend less due to loans being more expensive.
It seems at odds with what the SRAS curve tells us about how suppliers (i.e. firms) react to changes in prices in the short term. At higher prices they supply more GDP in the short run.
We get quite strange situation. At higher prices firms will spend less, but at the same time supply more. Assuming that the SRAS didn't increase, how is it even possible?