This happens very occasionally but does cause an issue. 
When this happens it will not allow you to open Chests (Some chests do play the "Open" animation but no screen pops up), Your inventory, Crafting tables. Anything that involves accessing your inventory mainly. 
The only work around to this i have found is exiting and re-entering the world. However, This can be a pain in the bum when it happens often... 
I'm unsure as to what causes this!