I agree with both MarkBa633csi and ShootyMacShootFace.
With longer times to ship from overseas, this has caused a shortage in the market of tools/parts. For many people, when they cannot get the less-expensive Chinese products, they then compete for higher end parts and tools. Add to this, more people are exploring at-home activities, often in crafts. Demand has likely ratcheted up measurably. With the shifts in "supply" and also "demand", increased prices were almost a foregone conclusion. Some bigger ticket items (like dividing tables with chucks) have stayed relatively flat, but then, there isn't a huge line of people clamoring to purchase items like that.
We have a third complicating factor, as many resellers and wholesalers are having trouble predicting demand after January 20th of 2021. Some are not as ambitious with the quantities they have recently been ordering; they want to get a better feel about how the winds will be blowing for the next 6 months. I don't expect these markets to stabilize until mid-summer 2021.
It is certainly not just the Machining market that is chaotic right now. My wife asked me to consider purchasing a gun. There are a lot of empty shelves (both ammo and guns) in the shops these days. Even online shops are largely wiped out of inventory. Our problem in machining supply is simply emblematic of many industries these days.