Food prices could be in for some steep increases due to the war in Ukraine, since a lot of the world's wheat and fertilizer are grown there and are being affected. Like fuel, those items affect a wide swath of industry. So, the pain can get a lot worse and for a longer time.
I bought my house at the end of 2013, when prices were still very low and interest rates were only beginning to nudge upwards. I was planning to sell in 2019/2020, but took the house off the market when a friend and his family needed a place after their lease ended and the owner of the house they were renting was not going to renew. Now, with inflation as it is, the house is a good investment so I moved back and we have two full incomes (and two partial, from their son and another friend's son). I moved back because they were having some trouble with expenses. We are still feeling the pinch, but we can weather it for a while longer.
The concern is more for the long term. We might be on the verge of a depression if the USA can't manage inflation before it goes out of control. I don't want to think about how things will go if that happens.