The first wave of inflation is finally making it's way to the consumer.
We're in for multiple new waves and it's not going to be pretty, world is increasingly headed towards a global depression.
Just wait until we get a secular commodity bull market going for the next 10-30 years, meaning a very long term price increase in commodities, which are going to jack up the raw material costs up many multiples.
Those 99 cent cookies will go up to €8-€9.99 in the next decade and wages sure as fuck won't keep up with that.
It's going to be a big mess of a situation in the West, especially in the US. The next era of radical economic growth is going to happen in Latin America, China and SEA reagion, while rest of the world takes a break for few decades.