There are many people suffering under it. The inflation is inflicting extra suffering than people would otherwise be experiencing. Not everyone in society has lots of money to easily be able to afford price increases.
Democrats are in DENIAL that Democrat policies are to blame.
If all this inflation really is just caused by temporary supply chain issues, as is claimed, then shouldn't we see prices begin to drop back down soon?
China and India are beginning to buy oil from Russia, which should cause oil prices on the world market to drop back down.
I suppose that will be the test, won't it? If prices drop back down to what they were, then we will know that the inflation was just caused by supply chain issues. If, on the other hand, they don't, if prices don't start falling back anywhere near what they were, then we will know for certain that this inflation was caused by an increase in the amount of money the government has printed.
And why are there so many on the Left who pretend rising prices don't really matter, that all the focus should just be on raising worker wages? (I suppose the difference between Supply-side and Demand-side economics)
You do realize that even if wages rise, that itself will contribute to higher inflation, and wages will have to rise again to compensate? (This will happen until they finally settle at some point, but by that time the inflation rate will have risen some more, even after the original cause. Unfortunately what we are seeing is the inflation rate continuing to increase faster than wages, so that cannot be the explanation for what is happening)
The government seems to just want to print themselves more money to spend, because actually trying to increase taxes to pay for all this extra spending would be political suicide. Inflation is like an "invisible tax", harder to see what's actually going on.
Inflation also makes the debt easier to pay down in the very near short-term, but much harder to pay down in the long-term when interest rates shoot up in response to worries about inflation. (Were interest rates to shoot back up to the historical average level of 5%, then 23% of the government's revenue would be consumed just paying interest payments to service the national debt) So once again the current government seems to be trying to kick the can down the road to the next government, refusing to take responsibility now and let them worry about it.