COVID-19 is ongoing, but the economies around the world have opened up, and it's NOT only supply side inflation that's causing the prices of goods/services to go up. It's also the demand side. There was non-stop BRRR-money-printing during 2020 - 2021 around most Central Banks to pump their economies with liquidity to avoid a recession, and with all that money in people's pockets, and with the opening of the economy, WITH smaller supply of goods caused by Russia vs. Ukraine, what do we have? A contagion of inflation.