No; prices went up fast but there is nothing to drive them back down (ie competiton) even with inputs costs having declined due to monetary policy. Ergo, inflation was used as cover to hold prices high long after their cause had subsided.
Even with no competition you can’t keep putting prices up unless your customers have the means to pay. Competition didn’t suddenly change, it was the means to pay that did.
https://robertreich.substack.com/p/corporate-soaring-profits...