Comment by kypro

Actually, I think it's a little different. During the pandemic personal savings rates exploded and credit was extremely cheap. Companies realised that customers had plenty of cash in their pockets so could afford to raise prices without the demand destruction you'd typically expect so they did.

You're right in the sense that this idea that corporate psychology just randomly changed over the last few years makes just as little sense as saying customers skimping and building up savings in 2020-2021 contributed to inflation in 2022.