The supply chain problems have been resolved. Spending on goods relative to services has been reduced to normal levels. Gas prices are under control. Labor shortages still exist, due to limited immigration and retirements, but wage increases are running pretty close to the inflation rate. Inflation is down, therefore, but not as much as you might have hoped. Why?
Mostly because affluent consumers with robust pandemic savings and healthy home and 401(k) values are less resistant to price increases than many companies had previously anticipated. The businesses are continuing to raise prices to boost profits. The tradeoff between increased profits per sales item and lost less affluent consumers is apparently worth it. At least for now; are you really going to buy an ordinary car that costs $50,000?