Rumors are $5/gallon gas by July 4th, $7 in California.
Inflation is caused by sellers of products being less urgent than buyers of products.
No, it is not interest rates not high enough. No it is not Milton Friedman and his monetary silliness.
Money is a substance created from nothingness by central banks. Nothing created by whimsy from nothingness need comply with or care about any Economics Laws.
How can there be such laws about a substance that comes from nothingness? Everything about it is whimsy and its value is defined by the imagination of counterparties.
Buy farmland. Calories are not defined by imagination.