It wasn't missing its guaranteed # of I/Os per second, so I figured the slowdown was just "one of those things" and not an out-of-spec issue. Happy to send you the volume ID if you think someone would want to investigate (and still has data from the start of April) though.
DevOps/Infrastructure engineer here! I see this happen frequently in AWS. Never expect either your instance networking latency or the latency of the underlying EBS storage layer to be consistent.
If you absolutely need guaranteed IO performance, use an instance store or move to dedicated hardware. Them be the breaks of cloud computing.