There were no supply issues during covid with many, many products. Yet those prices went up too, even in a country with a high level of competition.
Why?
We as in "society"), have assumed this would be solved by some healthy competition. It's just that we optimized society for maximum short-term gain rather than a market where newcomers are welcome. As a result, the players that are already in the game are free to ignore the forces society assumed would keep things running smoothly.
So why was inflation only a problem last year? Did shareholders not try and extract maximum value before that?
It turned out profits were more important, and now people are angry about the new 230g mayonaise tube costing the same as the 275g one did last year. But at least the new tube required 17% less plastic.
Something's got to give if we expect inflation to drop. _Many_ people expect businesses to take the hit. After all, many raised prices due to things like energy costs last winter, but very few lower them again now that production costs go down again.