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There is a strong sense of the economy changing quickly. You can see it in the volume of transactions that have driven house prices up by 10% in the year to May, and in reports of staff shortages from pubs, restaurants, haulage companies and housebuilders.
Some of the inflation was inevitable, and some is easily explained. Consumers were bound to spend more freely after lockdown and no one can be surprised that companies are trying to catch up on lost trade, including by pushing up prices. The whoosh in the housing market is partly down to the rush to beat the return of stamp duty. And blockages in global supply chains, particularly for computer chips for new vehicles, have contributed to a surge in prices of secondhand cars.