The graphs above illustrate the increases in the producer price indices for selected European countries. As you may note they are substantially up and increasing fast. Germany just announced the greatest increase in producer prices in 70 years—since 1951.
Producer price indices are generally considered a leading indicator for consumer prices.
So much for “transitory”.
Transitory left the building a year ago, and with COVID hysteria not slowing down, it is going to get a lot worse.