There is certainly inflation in terms of money supply.
The question is whether the price inflation is going to hit various goods proportionally or not.
2021 price in/stability remains big question for me.
I know there is a lot of money supply in the economy, but where is it going?
We see increased unemployment and slow-down of economical activity.
In recession the money supply does not necessarily lead to inflation.

Maybe, we may see price increase of assets and maybe commodities that are storable, durable goods rather than commodities that are consumable and luxury goods.

In the USA, some people will have a lot of money, but high number of others will not. Of course, increase of minimal wage might change the game, but it shall further hurt the employment.
There is so much in the pipeline that it is difficult to guess what comes out of this in the end.