It's not any price fixing or colluding, it is simply an underlying observation by other companies that make them edgy and wanting to increase their prices "just in case and it's an opportunity". The market mechanisms of attracting customers from the competition has been diminished, because the opportunity of the mass histeria band wagon has simply become a framework to operate in. Why steal clients from the competition if we can get them to pay 50% more just because "it's those times and no one will complain". Not all price settings need a formal price fixing agreement, it can simply be an "understood market tendency".

"Everyone is raising their prices and our market analytics tell us we can do the same without losing any customers, because consumers don't really have any other choices and if they do, it will be just as costly due to.... Mass histeria".