The idea that the chip shortage has caused price rises in many industries, which is being counted as part of "inflation", but is really just a temporary market

The idea that the chip shortage has caused price rises in many industries, which is being counted as part of "inflation", but is really just a temporary market hiccup and not a new normal. I don't know enough about the economics to have an opinion on that debate one way or the other, but I think that's what they're referencing.