dementsprechend and infolge might be, depending on context, somewhat redundant in your example sentence.
The literal translation is, as you say, "accordingly", but dementsprechend is often used in a causal connotation and can simply be translated to "thus".
Er war müde und dementsprechend schlecht gelaunt.
He was tired and thus in a bad temper.
In case the sentence is embedded in more context like
Der Bedarf an Goldmünzen ist in den letzten Jahren sehr gestiegen - Infolge von hohen Kosten kann man aber leider nicht dementsprechend viel herstellen.
The demand for gold coins has increased a lot during the last years - but, because of high cost, production can not keep up [with that demand].
the dementsprechend would relate to the high demand in the previous sentence in a connotation of "as mentioned before" and not be redundant.
