No, we have stagflation right now. Stagflation is generally the type of inflation where production cannot follow demand. This is generally caused by supply shocks and sometimes by legislation that prevents people from working. The semiconductor shortage is causing a lack of new cars and thereby an increase in used car prices is an example of stagflation because prices go up but nobody is employed in the process to produce more cars.

However, this stagflation is unlikely to last because those car CEOs sure as hell don't want their company to go bankrupt. They'll pay more for preferential access to semiconductors and make their JIT manufacturing more resilient.