If you are making bread and suddenly price of flour increases by 600%,so you have to increase your prices. Unless you are based in a country run by some delusional autocrat, you'd be fine. If, however,the supply chain is fine, i.e. your toilet paper supplier, however you end up selling it for 500% price because people can't seen to have enough of it- the the laws would apply.
Unfortunately these "delusional autocrats" run the government of, for example, Georgia, Kansas, Louisiana, Mississippi, etc. and would absolutely punish such a baker.
I highly recommend that you read through the legislation. The legislation explicitly allows prices to increase due to actual increases in costs. The only thing that's banned is increases in price due to increased profit margins.
