I guess, let's look at the bigger economic picture, and predict from there.
Things were normal, ammo was available and cheap.
Covid hit, lots of owners stocked up, the toilet-paper analogy. At the same time, covid affected the domestic manufacturing, and probably seriously slowed the distribution and especially imports. So the shelves emptied and you couldn't find much, for awhile.
Things started to get back to normal, now there's a lot of civil tensions and unrest. This pushed a second run, and this time a lot of new gun buyers- the world is getting too crazy, people wanted more protection. Non-owners buying pistols; pistol owners buying rifles. Ammo for the new purchases, because you probably don't have supplies for something you didn't own.
As production and distribution return to normal in the future, let's see what the market does. I've seen speculation of a new normal price, but not everyone is playing along... Bass Pro is big. It's big because- it's big, and spread around the country. They seem to be figuring out the shipping, and I can get $200 cases from them. I liked SGAmmo, but I'm not paying $50 more just because he sends me emails.
Once we see S&B, PPU, RUAG products back alongside domestics on the shelves, I strongly think we see a return to decent prices, if closer to $190 a case instead of $160. There's a larger gun owner market now, and the playing field has been reset. Vendors are going to try to establish a spot in the chain.
Got my bass pro order in today, it took 4 days. Also got my Glodal Ordnance order in, took about 6 days to get in a case of Tula 223 and some magazines (from the Father's Day sale).