Unfortunately that's true and remains to see if other publishers follow this trend. I believe this is not the time for a base price increase due to the worldwide economic situation caused by covid.Microsoft is already selling their games at console prices here in Europe. It's only a matter of time before other publishers will follow.
From an ethical point of view I believe it's not right. At least in my country, Spain, the unemployment rate (15.6%) is on the top of EU and will keep increasing due to our excessive dependence on tourism.
Reason: typos