Inflation is high because everyone is taking the excuse of inflation to raise prices. It's a deadly cycle. We just need for wages to rise then it's all over. Welcome to the Weimar America.

It's been high for a few decades.

Edit: If you look at the housing market, healthcare, and tuition. These specific industries have been terrible. And I don't believe housing is even factored into inflation because it's an "investment". I'm not sure about the other two industries.