We might see some prices drop where things like high energy prices have pushed production costs up, but a lot of it is stickier than that - if a company has just given its workforce a 5% payrise, it's not going to be able to drop its prices to the previous levels.
General price reductions would mean deflation which are a disaster for an economy. What we've got to wait for is inflation to fall back to preferred levels, although suspect the 2% is going to take quite a while to get to.
Much of the mortgage pain hasn't hit yet due to fixed rates, but people are going to get a shock as their 1.5% deal becomes 6%, so if they think they're struggling now... Unfortunately, the only way out of high inflation is to reduce demand and we're not going to do it voluntarily