This is probably partially true but just to note that there’s a lot of factors at play here. Since prices have risen on all items, what is more likely is that the prices are due to manufacturing companies raising them.
We know that’s true from the government reports, so what target is doing here makes sense. Their volume has become low enough that their margin isn’t making them money. Which is why they increased prices in the first place to try and maintain that margin. Now they want to increase volume on their own products which have higher margin (they don’t have to share) so the prices are guaranteed to be lower.
This is what we expect of late stage capitalism where most of the grocery store is effectively owned by a small handful of companies (J&J,P&G,General Mills, Tyson, etc.) and the only people able to compete with them are the grocery stores themselves.
The budget options still aren’t there to help you, but these options will represent the bottom of the market. And since they rely on the consumer choosing the value brand instead, they need to have volume of sales to work. And as we know, that means these products will always be nearer to the cheapest possible price.
Last note is important: if you observe that even the discount brand prices are beginning to become unaffordable for you and you represent an average consumer, your economy is already failing