On-chain data shows that the amount of Ether being issued daily has drastically been cut since the Merge. Ethereum’s issuance rate has fallen by 98% since the Merge, suggesting that the asset is on its way to becoming deflationary.
Since its transition, the network’s supply has grown by 7,385.47 ETH, whereas if it were still running on the Proof-of-Work (PoW) consensus model, it would have added 128,422.13 ETH.
The price of Ether has continued to decline since the Merge, tinkering with the $1,300 price point at the time of writing. According to a JP Morgan research note, "Reasons for the recent decline likely include a combination of buy-the-rumor, sell-the-news flows specific to Ethereum’s Merge event along with broader weakness in risk assets due to more hawkish central banks."