Flattest Yield Curve since 2007

I am very surprised that the Yield Curve continues to flatten. April Inflation came lower than expected but still above 2%. As you can see from the chart below, Inflation increase from 0% to 2% during the last three years

I am very perplexed that they 2Y-10Y and 5-30Y spread have continue to narrow during the last months.

It seems that the markets are thinking that inflation will come down during the next months, this may be the case but Energy Prices, Steel and other commodities increased remarkably during this year. I think it will be more probable that companies will start raising prices during the next months if the commodity markets will not go down during the second part of the year.