Problem is that we need to see similar action across a range of commodities/industries including the automotive side, price increases and insane pricing power in vehicles is one component feeding into inflation.In an overall inflation note... Kroger's inventories this week will be interesting to watch. We've see retailers like Target, Walmart, TJX etc have massively inflating inventories. Kroger has as well, if that continues and Kroger has to implement similar steps as Target... that could be a turning point in inflation.
And inflation won’t be declared under control and monetary policy reversed until demand is balanced with supply and prices return to sanity — Model Y LR has gone from $50k to $63k USD in just over a year. Inventories need to build, higher interest rates and borrowing costs need to subdue demand and balance it with supply or swing into oversupply.