I purchased the Samsung T7 1TB SSD for $173.21 in November 2022.

I am thinking of another buying another SSD but notice the current price at PB Tech (Buy the Samsung T7 1TB Portable External SSD - Titan Grey - USB 3.2 Gen2 ... ( MU-PC1T0T/WW ) online - PBTech.co.nz) is $279. The Model Number on the site and on my SSD appear to be same  (apart from the words WW which mine does not mention).

Other stores have similar pricing, so it is not a mistake.

So, has Samsung massively increased the prices or is it inflation and exchange rates?

I won't be buying one, but am considering the ADATA SE880 1TB USB-C Rugged Portable SSD (Buy the ADATA SE880 1TB USB-C Rugged Portable SSD - 2000Mb/s ( AELI-SE880-1TCGY ) online - PBTech.co.nz).

(Overall speed is not an issue as it will only used for image backups).

Edit: Forgot to mention that I have no recollection as to whether the $173.21 was a sale price.