This has been a general thing with kingcakes over the past decade. What was in the 8-10 dollar range in 2010-12 is now 20 bucks or more. They've definitely gone up faster than inflation (though to be fair, so have many of the ingredients).
It reminds me of when crawfish went from "cheap enough that a boiled sack wasn't a real notable expense" to "you have to budget for the once or twice a season you can afford to get crawfish now."