One store I frequent is having trouble getting guns from their dealers. They have inflated prices 15-20% to compensate for the lack of cashflow...and guns they get are usually sold in less than 24 hours after they're displayed, even with the inflated prices. The other store I frequent has no trouble getting guns from their dealers. As such they haven't really increased gun prices. As for ammo, the first store I mentioned have kept their prices the same (well, I think most stuff got increased by about $1 a box...small premium to pay if you ask me), but have instituted a three boxes per caliber, per customer, per day policy. The second store doesn't have a limit, but but they've increased ammo prices by 30-40%. Since a box of 9mm isn't worth nearly $20 to me right now, I choose not to give them business.
A business increasing prices is not an ethical thing, especially when you have options. They are having some of the same troubles we are in getting supply, and having increased pricing. They have to stay in business too. If the increased prices are worth it to you, go for it. If not, no one is forcing you to buy anything.