current prices will remain the new normal
Yes, like gas prices themselves - the price at the pump goes up when the price of oil rises, but never ever goes back down to what it was even if the price per barrel goes way lower than it was.
Same when potatoes go up - fish and chip shops charge more and will have a little sign saying it's out of their control, price of spuds etc... but once the price spike is over, those are the new normal prices.
People get used to prices and without competition they rarely go back down. We live in a inflationary system that relies on ever increasing debt and monetary supply to keep wobbling along.