Prices rose 5 percent in May over the past year as recovery continues

[IronLionZion]

6. Lockdowns eased up pretty fast

so demand increased for all sorts of things from restaurants to retail to travel. It should take some time for production to increase to satisfy this increased demand. Some stuff are involved in global supply chain shortages as other countries are still mired deep in pandemic. And then there are the times it takes to grow crops and raise meat and harvest lumber and other consumer goods that can't bounce back immediately.