Plenty of supply-driven inflated prices did go back down after covid, or after the post-covid inflation shock. Gasoline is one example.

At the same time, USD M2 supply increased an unusual 40% from Jan 2020 to Jan 2022. It only fell a little after. So prices that were inflated for that reason, I wouldn't have expected to fall back down.

I do feel like some local businesses just price according to costs but keep that ratched up if costs fall, like you said.