Prices rarely, if ever, go down in a meaningful degree.
In 2011, there was a large flood in Thailand that impacted ~40% of hard drive manufacturing. As a result, hard drives significantly increased in price. This was back when SSDs weren’t mainstream yet.
A year or two later, when manufacturing capacity was restored, prices were essentially back to what they were before the disruption.
Apart from disruptions like that, HDDs, SSDs, and RAM have always been going down in price.
In 2011, there was a large flood in Thailand that impacted ~40% of hard drive manufacturing. As a result, hard drives significantly increased in price. This was back when SSDs weren’t mainstream yet.
A year or two later, when manufacturing capacity was restored, prices were essentially back to what they were before the disruption.
Apart from disruptions like that, HDDs, SSDs, and RAM have always been going down in price.