It will certainly go down. The long term trend is a glut of savings driving down interest rates and inflation.
The target inflation is 2%. There is an argument for raising that arbitrary target. I would agree with raising it, except the fear would be to raise it ever time we ran into difficulty. Then there would be no target. But, I do not get to decide what the target is, so they may change it anyway.
We will get back to whatever target is within three years. I doubt it will be less than a year. Is that transitory enough for you?
Jobs (or at least positions) need to be destroyed to get to that target... But there is an open question. We have never tried to control inflation with so many job positions unfilled. It might be good enough to just get the unfilled positions destroyed.
Either way, this is not the time for more unfunded stimulus, and the UK just learned. So it is not the time for Republicans.