Official inflation stats will probably cool down. Prices are already so high that a return to "normal" inflation would still be misery. But actually I suspect

Official inflation stats will probably cool down. Prices are already so high that a return to "normal" inflation would still be misery. But actually I suspect that "core" inflation will fall somewhat. The problem is that energy and food are basically just running out. Whether it happens from rising prices or falling incomes, dinner tables are going to get pretty lean In America, actually I think we won't run out of food. Our dinner tables will stop having the variety that we are accustomed to and the quality of meat we have grown to expect, but most of us will still get enough calories. But the world is running out of energy, running out of food, and running out of people producing either of those things, and the fed moving money around can't make up the shortage.