Even if inflation dropped to zero, prices would not go back down, they just would stop going up.
At best, we can probably look forward to at least another year of stagflation (stagnant economy with high inflation). At worst, we are looking at another Great Recession. Either way, the economy will start to improve (on paper) just in time for the 2024 election.
I've suspected that, but I really need a good definitional education on "inflation." What is used as the base?
And if deflation is bad, as I've heard, than undoing rampant inflation seems to be impossible. Gas prices being an exception, somehow.