There is nothing really exceptional about the current inflation. There have been worse energy price shocks before, in fact, oil prices more than quadrupled during the 1970s. 1970s inflation was a lot worse. People today are richer and the composition of their goods basket has changed. Food and energy account for a much smaller proportion of total spending, which is the reason why the methodology has been adjusted.

It is certainly possible (but unlikely) that inflation might skyrocket to the 20s and perhaps even 40s in the coming years in case the Fed refuses to induce a massive recession to avoid social unrest. That could be a huge political problem for the globalist system and could benefit dissidents, but economies have survived worse rates of inflation in the past. Latin America had systemic 40%+ inflation during the 1970s and still managed to grow their economies and improve living standards. German Hyperinflation was actually not as bad for the overall population as the deflationary effects of the 1930s depression.

It may lead to some unrest and dissatisfaction and probably to the Democrats being defeated this year and in 2024 (Trump 2024 is almost a certainty) but people who think this is some kind of systemic apocalypse are fooling themselves.