With this IPA fad, they’ve been overhopping beer for the past five years or so. A shortage of hops will hopefully put an end to that.
One of the shows on Medieval England said that the local beer at the time was hopless, with hops eventually being imported from the Netherlands, iirc.
Plus, it's probably hogwash being spewed as an excuse to raise prices on the products. It has been done before...and not all that long ago.