Inflation is too much money chasing too few goods. We are suffering from the quantitative easing the government has been doing to make the economy look good on their watch. Obama increased the money supply by several hundred percent for zero positive impact on the economy. That was due to the fact he simply took GM away from the actual owners and gave it to “the workers” and others. That kept everyone’s money off the table because there suddenly were no rules. Then came Trump and the economy surged because there was faith the rules had returned. But all that money, plus the Covid QE is hurting us now. Along with inflation we are suffering from mismanagement.
Obama’s move with Gm also BANKRUPTED many of the vendors who supplied GM.