If central bankers continue with interest rate hikes, a lot of money will have to go to debt payments taking cash out of the system. That cannot help but reduce consumer demand for a lot of commodities and a lot of consumables. It wouldn't take much at the margin, e.g. a reduction of 3-5 million barrels per day of oil to send oil prices back down to $70 or more. Imagine the drop in demand (and used car prices) for vehicles when financing costs rise to 8% or more. That is standard recession type stuff so many of the causes of current inflation will indeed vanish.