That’s honestly plausible with RAM and SSDs, the same kits of RAM I spent around $50 on years ago were being scalped for $500+ because there was absolutely no supply.
But what percent of your PC price is RAM? When it was cheap it was probably less than 10%. I assume a long-planned upgrade means a mostly new build, and it's a pretty rare setup where that has gone up more than 50-100%. If this long-planned upgrade is just new RAM then the price could skyrocket, but it's still not that much of the overall build.