very well could be, lots of rune demand to make runewords. But one would think actual runeword items would be way down too since so many are being made for chronicle. Must be multiple factors
There were people selling all their rw’s post chronicle that they didn’t need or want elsewhere. That is clearly the reason for the increased rune prices.
The other is rarity , from a non ladder perspective. Formerly useless items became useful because blizzard pretended that he had a unique skill, so Zod’s doubled in price, enigma was hard sought and even useless items, albeit rarer like Mang, immediately became valuable.