Even adjusting for inflation, it’s common to raise prices to increase revenue (consumer expenditures). There are business people all over the world right now drawing up graphs of how much total revenue they can generate at different price points, and low price/mass sales is not a good approach for many companies.

This is an important point, because prices are set largely by what people are willing to pay, not costs + whatever margin a company picks, for example. Tons of right-wing media pretends industry does rudimentary cost + margin pricing to push talking points like “if our business has to pay one cent more in taxes or wages that will ultimately be paid by consumers,” which is preposterous theoretically and has been disproven by real data over and over.