They’re not.<p>Most of these price increases (e.g. semiconductors, lumber, consumer perishables) are supply-chain related. It’s reasonable to expect them to subside as the most acute phase of the pandemic recedes. Only one I’m not sure about is the price of a meal at a restaurant …
I think there is a lot of confusion based on terminology. Even though the US failed to hit the 2% inflation goal for years that doesn't change that the Fed considers 2% inflation to be price stability i.e. the same thing as no inflation.<p>When they say transitory inflation they obviously mean transitory inflation above 2%. One problem with transitory is that a lot of people think the timescale is very short, maybe it will be over by the end of 2021 but nobody really knows because it all depends on how quickly the supply chains catch up.
The biggest cause of inflation is talking about inflation. If people believe it will happen, it will. Otherwise, it won’t. So, uh, let’s not about it, OK? ;)<p>Also we all experience inflation differently and our past experiences influence our expectations. The things I look at are already highly inflated (electronics, cars, housing, restaurants). Those are not everything. But I bet readers of this Website most often look at those same things …