Working to get yourself into the position you are in is good, admirable, however as you suggest, it can change quickly. Be vigilant.
You have a good approach and are sensible I think, having some things you would like, but not too many, and I agree that things won't come back down, not as much as they went up anyway, it at all.
Price gouging is a reality and a lot are doing it, also price fixing, the big corporations forcing suppliers into lower prices so the corporation's make billions...it'll force places to close though, and that affects everything through unemployment and lack of competition...it'll change the face of business and that changes things for everyone.
I think a person needs to apply some sense to their situation, and whilst saying things like, I'm not affected much, might seem cool, that sort of bravado will crash down upon many people's heads if they don't make changes.
Yes, making changes while it's voluntary helps keep a better mindset about doing with less than waiting till you are forced too. It is always helpful to take care of yourself that way. Saving most of the extra too "just in case" is a good thing too. I have two bigger ticket items that really need to be replaced and one that I "think" I need. After those are updated, All of the second income will be put away for the day when that may be the only income.
A little preparation is easily done and can make a big difference down the track. You're on the right path I think, I like to think I am too.