While many LEGO pricing decisions are egregious, this one is surprisingly fair. Build quality is also much better. Looks more like what it's supposed to be, colors are more uniform, and the treasure chest isn't just a brown crate
Lego is polypropylene made from petroleum. It would make sense if the prices are impacted by a global oil stoppage due to war.
Edit: most Lego is made from recycled materials. However transportation and manufacturing costs are still on the rise because of the war in Iran.