We have been talking and writing about inflation for several months. The latest figure from the most recent CPI number released yesterday has inflation running at over 6% annually up from 5% last month. The economists are saying it is temporary as the economies around the world restart. It is hard to understand why they think that when a recovering world economy will put more pressure on prices and we are facing a shortage of most commodities while at the same time central banks are printing excess money in almost every country that has a central bank.
It can be temporary of course but that would mean trying to stop the economic expansion and I doubt any government will do that any time soon.