I agree we won't see empty shelves, excepting maybe some food items, as if people don't buy things due to the higher price, they'll just sit on the shelves. I'

I agree we won't see empty shelves, excepting maybe some food items, as if people don't buy things due to the higher price, they'll just sit on the shelves. I'd caution that no demand is totally inelastic though. The classic example is people not reducing their insulin use if the price goes up, but in actual practice, people absolutely do just that.