I think a lot of this is a combination of "because everyone else is doing it" and "because we can". I've seen a huge price increase in branded and prepared food products. Staples like fruit, veggies, eggs, etc. has gone up in price but much less than the branded.

I also think a lot of companies are running near capacity. Labor market is tight and the supply chain is still reeling from Covid. So there's not really an opportunity to lower/maintain prices to get market share.

The whole point of this inflation is, times ARE good. People have too much money to spend, the job market is too hot, which is why the fed is raising rates so fast

When times are bad, McDonalds sales go way down, then they re-introduce the $1 menu