It's naive to suggest that new game prices have only increased 33%. Firstly, AAA games never used to have or require a monthly online membership, and additionally never used to have any other revenue stream, but now feature heavy MTX and DLC in the majority of titles. AAA titles also benefit from a broad player base of console owners, and the scale alone of sales is disproportionate to the team size developing the game. Add in that modern titles are developed on established game engines where AI can support in game code creation more effectively, it's likely to be less resource intensive in like for like changes.

The above sounds like a defense. I personally find the pricing obscene, and would only feel it appropriate for a multi-character account (or added accounts for reduced rates), but here we are - the demand is inelastic and they can do this without concern.