I think this is the "catch your breath" period. An adjustment period to reexamine what is going on and get comfortable with the current reality. Much like you ease yourself into a hot bath then have to take a couple of minutes to get over the shock. After you do, the water doesn't seem so bad. This is that time.
A few points to keep in mind on the direction prices will go.
1. Current production is not keeping up with demand. In classic economic theory this means prices will rise.
2. Disruptions in supply are likely. Why do I say that? Manufacturers of certain types of ammunition, magazines and other accessories are possibly going to relocate their operations from states that are in opposition to their manufacture and move to other states. There would be a time delay between dismantling, remantling (is that a word?) and renewing production. That means less supplies, which means higher prices.
3. Backordered products--I have heard--could take as much as an entire year of current production to fill. So forget about huge pallets of .22, 9mm, .45, .223, .308 etc suddenly appearing at your local Walmart or other supply store.
4. As mentioned, demand is high. With tax returns being mailed out, the source of ready cash MAY increase for purchasers. With cash in hand, even if the price is higher, people are more likely to pay. Result: higher prices.
5. Legislative actions are at best uncertain right now. Including issues such as whether foreign sources of ammunition and accessories will continue to be allowed in for importation. Just because they haven't currently been mentioned does not mean they won't be in the future. If other sources of supply are diminished, the prices will rise.
Just a few things to keep in mind.