Why would that be a given, especially in a shortage?
Go to Walmart, look at the empty shelf. Walmart moves a LOT of ammo, the prices are not higher than they were a year ago (at least the empty shelf where my 9mm used to sit).
If prices were raised by the factory, and all factories are at 100%; some factory is going to cut or maintain the original price and use the backlogged business to expand - such is the nature of Capitolism.
Factories operate on a backlog - they know their daily/weekly capacity to a very precise number. If they have 3 weeks production backlog on the books, that's a good thing. If they have 3 Months backlog - that's a great thing. If you have a year's backlog - then you see about expanding your business.
If your local gun shop has raised prices, he's gouging you. This is a temporary shortage.
On a personal note, I intend to buy 1000 rounds and use my food vacuum sealer to seal a couple hundred rounds to put away for future use. They 'should' be able to be stored indefinitely in a simple bag like that.
You don't suppose their supplier haven't raised prices as well, do you?
While the Big Boys, may make everything themselves, not all manufacturers do, but even the ones that do, have seen rises in prices for both brass and lead. Copper too. That was true even before The One looked to win the election. Some of the price increases were due to that factor, and occurred well before the electioin. But not most of the increase.
However I ordered some .223 back in early March, and while it been backordered, they are now saying they'll start shipping again this week, and are taking orders at the same price as in early March.
Not true with magazines, which have also risen in price. I got my order in just before they raised the price, and they were delivered at that price, albeit with quite a wait. (But I got slightly better magazines, mainly a difference in the follower, because that's what they got in. Well some of them, the last two on the order, came as ordered, except for color, and I prefer the black over the gray anyway. )