How prices come down

We were discussing a new app claims to offer significant discounts for dining out (there’s a whole bunch of them out there).

Ever since prices started going up about a year ago in response to global post-pandemic inflation, I’d been pondering on what it might look like when they eventually correct and come down.

Unlike the path it took on the way up, I doubt the price of a takeaway coffee would suddenly decrease from $5.00 to $4.50 to $4.00 within a perceptible timeframe. This new app along with the proliferation of cashback QR code schemes I’ve noticed recently made me wonder if one of the ways prices make their descent is in the form of businesses offering deep discounts because the market and competition demand it.