In the long run, but it is not uncommon to see production lose money when their input costs are higher than the consumer price. A vendor is still beholden to what someone will pay and when you have to pay for your inputs before proving what the end consumer will pay, you can quickly be left holding the bag. This corrects eventually, but not usually within the span of days or even months. It can often take years to see things correct.

You still can't have inflation if the people don't have money. A business can't magically charge more than someone is willing and able to pay. And they say the people don't have more money to pay with, currently subsisting on draining their savings, so inflation will be short lived – unless incomes start to rise. The FED is working tirelessly to try and prevent that from happening, but we'll see.