I've seen a number of commentators talking about this, and what Biden should do. Basically, Biden needs to explain where and why there is inflation. Having an unemployment rate of 3.8% means wages are going to rise, which means companies need to pass on some costs. Then, there are the supply chain issues, and frankly a lot of companies are using these factors to jack up prices to boost their margins and profit. You can tell this because their profits are rising much more than input costs and other factors.
Finally, let's be real. The Russian invasion of Ukraine is going to boost prices in the near term. Neither country is an export giant outside of oil products and wheat. But, the trickle down issues could cause further global supply chain issues. How much will that impact energy prices? Canada doesn't import Russian crude, the US only like 10%. But Europe....