So this means all prices are finally coming down soon, right? RIGHT?

No... because most conventional pricing increases exceeded the economic demands... at least in terms of groceries, which is one of the bigger areas of growth along with insurance rates (looking at auto insurance, required by govt in most states).

The food industries were seeing record profits at the same time of massive inflation, they were maximizing prices to see how much they could grow their wealth, while trying to minimize costs, decreasing quality and just absolutely abhorrent behavior all around.

I'm all for capitalism, but I strongly feel that the limitations granted to corporations by govt should come as part of a social contract that has largely been ignored completely. We should curtail a lot of the limitations granted and actually hold executives responsible for their decisions. We should also establish that "shareholder value" is not the only focus that companies should have. A corporation is not a person, that a corporation exists is fine, that they've been shielded from responsibility altogether in that limited liability now means you can literally destroy towns and executives and boards face no consequences is deplorable.

Governments should be limited, by extension the shields govt grants to corporations should similarly be limited. When the US constitution was written most corporations were formed around civil projects, then disbanded. Most companies were sole proprietorships or small partnerships. I think we need to get closer back to these types of arrangements.