Have hardware prices gone crazy during Covid?

Well, I was looking at a couple of upgrades for a friend's computer. I
built the computer for them several years ago, so it's now time for a
few performance upgrades. The system currently consists of a
Haswell-generation Celeron, and using just Intel graphics. So the idea
is to upgrade that processor to higher end 4th or 5th gen (Haswell or
Broadwell) Core i5 or higher, preferably i7. And also to upgrade that
graphics to a lowest-end graphics card, because they got themselves an
ultrawide monitor.

So I looked at the prices of some of these parts and my eyes popped out
of their sockets! Have they gone crazy? WTF?

CPU's, the prices of the CPU's range from C$89 to C$3316! The cheapest
$89 one was the price of the same Celeron G1840 that they currently have
right now, and it's more expensive than when they first bought it! I'm
going to ignore any of the ones that cost over $1000 (actually some of
the $1000 ones are Core i3's)!!! The cheapest Core i3's range from $281
to $607. The Core i5's range from $400 to $953. The Core i7's range from
$631 to $817, and in some cases the lower end ones cost more than the
higher end ones.

https://ca.pcpartpicker.com/products...ice&X=0,100000

Then I looked at the low-end GPU's, eg. RX 550, something that should be
easily under $75 these days. They're going from between $85 and $252!

https://pcpartpicker.com/products/vi...ort=price&qq=1

I mean, I guess I can go towards used parts, but after seeing these
prices for new parts, I wonder how low used parts would be by comparison?

Yousuf Khan