The recovery will be slow. Prices are raised the instant the cost of goods goes up, but are very slow to come down as the market seeks a "new normal" that is invariably higher than it was before the shortage.
For example, primers in 1987 were $10/K. Using inflationtool.com one gets a 2020 equivalent of $23.27, but the pre-shortage 2020 rate was $38/K or 64% higher in real terms. It's my believe that the two previous shortages contributed to the long term primer price increase on an inflation adjusted basis.
When I was in high school, we tried to avoid paying more than .01 (1 cent) per round of .22. Later, when I got into shooting in the late 80s, the same logic was applied to Winchester primers - never pay more than a penny each. After each primer shortage, prices settled in at a "new normal" higher than pre-shortage - though this is the only shortage I remember that has seen widespread opportunistic reselling - probably because the internet grew up since the first two big shortages.
Bullets are easier to get because there are more manufacturers, and the barriers to entry are much lower. In a pinch, making your own bullets is much easier than recharging primers and banging out the dimple in the cup (preferably not in that order though). They have seen their own ratchet as commodity prices pushed prices up, and only part of that increase was rolled back when the price of lead came down.
My only primer source is charging what I used to pay online for Winchester, but I would have to buy 500,000 to get that price and wait about 3 months for import/export paperwork and shipping of an unfamiliar but reputable European brand.