IMO, inflation and devaluation of the dollar will certainly have an impact in the long run, but the immediate future will be dictated by supply and demand. When the national panic cleared store shelves of ammo and then reloading supplies and equipment demand drove prices through the roof. Suppliers like Remington, Federal, Etc. could not have predicted the explosion in sales as everyone hoarded every kind of ammunition they could find.
We essentially exhausted a 24 month rotating inventory when we panicked. The panic subsided, suppliers began to catch up, and most importantly, people started selling off some of the stuff they had hoarded.
Prices should continue to drop at least through the end of summer, especially on niche components like reloading tools and supplies. I know too many people who have never reloaded a cartridge in their lives who went out and bought full setups - presses, dies, bullets, powders, primers, etc. - so they could reload when the ammunition dried up. Now, I'm seeing a lot of that stuff filtering back out into the marketplace on Gunbroker and at gunshows.
This summer may be the best time ever to get into reloading, as I think there will be a glut of "used" tools and materials, and the prices of all it will bottom out.
Just my 1.5 cents worth,
KR