Inflation is an increase in the general price of goods and services in an economy. Ask yourself what is currently driving price increases?

In my estimation it's the Fed's own rate hikes. The price of mortgages is going up. The price of car loans is high. The production of consumer goods relies on leverage and the increased finance expenses are pushing up the price of milk, gas, clothes, etc.

Of course the rate of inflation is slowing, the Fed is slowing their hikes from the previously imposed a .75 raise to the present .5 hike.