Inflation? What inflation?The mantra from central bankers is that inflation is well under control and that any increases will be transitory. Well sometimes these transitory spikes have a nasty proclivity to flatten out at a high plateau and increasingly you see the signs in not just one or two sectors but multiple ones.
The most palpable ones have been in housing, gas, most metals and commodities etc.
Here's one anecdotal event experienced in our household. Hope it is transitory.
Three weeks ago the price of a kilo of filet mignon at the local Costco was $44.99. Two weeks ago there was none on the shelf. Ditto last week. Yesterday there was product on the shelf but the price had shot up to $59.99.
Fortunately the basement freezer has enough to carry us through most of the summer. So we are hoping it is a transitory phenomenon.