Watching it happen around here (Washington state, USA) in may different ways. What I watch with some concern is the sharp increase in what I call "bottom line staples" at the grocery store, rather than the more expensive stuff. Like the cost of a 2lb bag of rice or beans, or a package of pasta has more than doubled since the beginning of 2022... while the price of something like a dozen organic eggs *(which were ALREADY expensive) has gone up maybe 10%.
Of course, the poorest depend on the cost of things like spaghetti, beans and rice... and looking at $1.89 for a package that was often 79c on sale a year ago... that's scary.