Let's translate this into plain English: Companies cannot sell their goods because no one is buying them in anyway near the numbers of what they have in stock, so instead of throwing their goods in the trash can or selling them at a loss, they are sticking them into warehouses.
They can only get away with that strategy for a very limited amount of time.
And yet prices continue to rise.
True. We have come to expect inflation, and it has been cancerous during the Obama era. However, the BLS and other government agency simply lie about the data. They do this so as to not have to pay increased COLAs to Social Security, military retirement, Federal retirement, and other recipients. They also do it for political purposes to mask the real high inflation rate.
Furthermore, the sinking middle class cannot afford the goods and services being offered at the current prices.
Small businesses are dying, and in order to attempt to keep up with increased fees, taxes, and liabilities, they are trying to pass on their costs to their consumer customers.
So if you go to your local small car repair shop, house pressure washer business, or pool cleaner - they hand you an estimate for their labor that is out of this world.
People are balking, and either doing the labor themselves or putting off repairs.
The economy has no where to go. Meanwhile, Europe is on a roller coaster downhill toward negative interest rates, which threatens to blow up the entire global economic system.