In that case, expensive things won’t be expensive for very long.
Retail pricing logic suggests that brands would rather price relative to the baseline pricing anyway. It's more likely to be generally inflationary unless of course suppliers manage to meet the current demand and even if they do there's a big risk that demand will crash suddenly at some point which could cost the suppliers or retailers greatly as well as they overproduce items that never get bought and cost money to store. It's a big mess, really.
Either way there is a present glut of expensive things without enough demand, so existing oversupply is liquidated. So expensive things get less expensive.
This is the crucial part, there is no reason to believe this is happening. There is not a 'glut' of expensive things as many are forced to buy the expensive alternative when their preferred choice is gone, and regular consumers of the premium brands still buy them. They just sell out less fast.