Prices are high because the economic value of bicycles is higher today. Producers don't set prices in a vacuum. In a free market, both producers and consumers together set pricing. If bike X is priced at $3,200, it's because consumers of bike X are valuing it at $3,200 and are paying $3,200 for the product. If bike X is really worth only $2,500 to consumers (but priced at $3,200), then the producers of bike X would have a glut of supply of that model, and bike shops would be overflowing with bike Xs with $3,200 price tags.

As stated earlier, despite the high prices of bikes today, there still is not a healthy relationship between supply and demand. Demand is still outstripping supply (or supply cannot keep up with demand...however you prefer to look at it). If bike X continues to sell out at $3,200 and they can't make them fast enough, then that price is probably too low. It doesn't matter what the price was yesterday, last month, or last year. Producers and consumers set pricing based on today's variables. And today, bikes are more valuable than they were last year. Maybe that'll change a year from now. It probably will. Once the demand is satiated and bike shops are full of bikes again, they won't have $3,200 on bike X any longer. In fact, I wouldn't be surprised if there's a correction in the other direction. You may very well be able to buy some very nice bikes a year from now for much less than you can buy them today.

There won't be any accusations from consumers about price gouging then...