Sometimes I wonder if the word inflation has two meanings. There's what we typically mean by the word -- a lingering phenomenon which feeds on itself. And then there's the short-term "situational" thing which lasts X number of months.

I think part of the problem is we're using the same word to describe two different things...

"Russell Price, chief economist at Ameriprise, expects inflation to peak at 7.1% in December and January, for example. After that, he expects the inflation rate to fall toward 4% by the summer and below 3% by the end of the year."

https://abcnews.go.com/US/wireStory/inflation-painfully-high...