It is a conspiracy!
I don't want this to get political, but....
Seriously, IMO, during COVID prices went nuts and supply failed to meet the demand, plus many manufacturers were dealing with shut downs from COVID. Manufacturers jacked up their prices, people still bought so when the dust settled the prices dropped some, but manufactures are simply enjoying higher profits. If you do some research and look at company financials, most companies are doing better than they were pre-COVID.
I worked at a HVAC supply house during COVID. We had one major supplier that simply gave up on us and refused to ship our orders. We found another supplier to fill that void and we sold more from that supplier in 2020 than the previous 2-3 years with the other. Most of our suppliers were pretty good and filling our orders. Our sales that year were crazy. We attributed it to people working from home. We have a big lakes area just east of here and from the contractors we supplied they were installing air conditioning in lake homes that never had it. People left the city and worked from home at their lake place and because they were there full time wanted AC. It was crazy times for sales.
I am still in contact with guys I worked with. Equipment prices to a big jump during that time and never went down. Contractor pricing is way up too. It is funny how cost on a furnace jumps 50% and the installed price to the homeowner jumped 75%. I talk to friends that are contractors. Jobs they did before COVID they may have charged $7,500 are over $12K. They laugh because their costs did not jump up anywhere near that much.