Inflation here? gas/grocery prices just continue to climb

I'm starting to worry about stagflation.

That's the main concern - inflation is bad, but as long as the economy is growing relatively fast as well, it's manageable. The fear is that measures to control inflation will spark a recession without stopping inflation fast enough.

On the plus side, we've learned a lot from the 70's so we have better tools to address, but it's still super messy and will cause a lot of hardship.