Comment by Manuel_D

What conditions? Your post ultimately does boil down to "companies realized that they can just raise prices and make more money". Completely absent from this narrative is a reason why they couldn't have raised prices earlier.

Of course there are reasons why: the supply shocks during the pandemic are largely resolved, but there's still pent up demand. That, and a massive influx of cash that enabled consumers to pay those high prices. But this isn't "greedflation" this is a completely expected outcome of interrupted production and a large increase in money supply: more money to spend, but fewer things to buy, leading to high prices.