Maybe inflation is not hitting these at the same pace? The money supply has been increasing for already some time, but only now we are seeing inflation catchin

Maybe inflation is not hitting these at the same pace? The money supply has been increasing for already some time, but only now we are seeing inflation catching up for example on consumer prices. For money supply to show in consumer/business side of GDP, money created by central bank need to be distributed. When interest rates have been low, maybe banks were hesitant to start pushing money to individuals and businesses and it instead ended up in stock market.