I work in a related industry and I can assure you this is very very true - not just for toys.
There is a major global shipping crisis right now and coupled with the lack of lorry drivers in the UK the delays are catastrophic. I won't even go into manufacturing delays caused by storms and/or Covid or the shortage of shipping containers.
The cost of shipping is sometimes x7 what is was last year. So yes, prices are going up.
It's bedlam right now with store buyers frantically tying to secure delivery dates on key lines but suppliers not even knowing if their products are on the water. This goes for food, toys, games, books....you name it.
Demand has never been so high and supply so low. I am literally turning away hundreds and thousands of pounds of orders from big stores as we cannot get stock into the country. And when we can we can't get it from port to warehouses...and then getting stock out of warehouses into stores...
What you're seeing right now is the tip of the iceberg.
And for those interested the lorry driver shortage is caused by multiple issues namely: Brexit, a change in tax laws and Covid.