Nope - it's always been that price. It was that price two years ago when I bought mine.

I had a home made press similar to those posted here. It worked well enough, I suppose - but the right tool for the job works so well it isn't even a contest. For $50, it was a no-brainer to me. I'm all for DIY solutions, especially when the proper tool is prohibitively expensive. This one isn't, but it's your money.