Nominal inflation is fairly well hidden from people. The prices of most goods remain relatively static, or at least stay within a narrow band over an annual cycle. Producers have contracts for fixed prices on inputs and often outputs, so their prices are often fixed for a term. Frosted Flakes may remain $3.99 a box for five years, while a price increase to $4.49 is introduced gradually through sales and promotions.

So if people are experiencing inflation in the short term, that's notable.

Now, it's important to differentiate between inflation due to supply constraints vs. inflation due to long-term cost increases on inputs. For example, lumber is hella expensive right now, but it's probably not going to remain at the levels it is at in the long term. Whereas the cost increases of corn might be permanent.