Earlier in the year, some costs spiked due almost entirely to transitory pressures. Since then, however, overlapping factors have combined to broaden and entrench price rises.
Inflation remains the hot topic in the market right now As we know, there are two competing theories about how inflation will evolve over the coming months.
The Federal Reserve believes that inflation is transitory, but some high profile investors disagree and have bet big that the Fed is wrong. Also, see How to hedge against inflation.