Hyperinflation has not materialized -- the government reports an inflation rate of 2.2% which you may be satisfied with if you believe everything the government tells you.
However, it's quite clear that the government massages the statistics to underestimate inflation. As Harvard economist Gregory Mankiw has pointed out, this was done in the 1990s (likely among other periods) to lower the cost of social security premiums. Since those are linked to inflation, the government can save money by reducing the standard of living of seniors by simply lying about the inflation rate. Methods include hedonics and substitution, for example if the price of steak goes by, the inflation rate should shift to the price of ground beef, so as to keep the inflation rate low.
The cost of housing, and the cost of food, are also not included properly. I'm not sure if post-secondary education and childcare are properly included.
Shadow statistics reports an inflation rate of ~10%
http://www.shadowstats.com
Which is closer to what people experience.
During the last election, Donald Trump was regularly quoting much higher inflation and unemployment numbers than the official numbers. The media laughed at him as they accept the narrative that there's 4% unemployment and 2% inflation, in spite of that being impossible in traditional economics as per the Fischer relation. People however experience the world differently, only those who live in upper-middle class coastal bubbles and similar enclaves believe the official statistics.
tldr; zerohedge is overestimating the current calamity, but the mainstream media underestimates it.