Not more recently than that. Obviously I'm talking about a very recent phenomenon - it jumped with City but recently with the possibility of the money-clubs competing with each other for these signings thanks to the emergence of PSG, Monaco etc, it's taken a serious hike. We had to pay inflated prices for Young (Young!), for Jones, for Zaha... our interest in a player of any quality or potential gives the seller more than enough basis to hike their price. There's simply no way around it.
I'm not saying we should throw the chequebook at every problem. Personally I'm not buying into this 'we have to buy six players this summer' nonsense: I think we need three - a LB and two CMs. But our squad is more than big enough, and we already have young potential. What we need is an instant upgrade to the first team in those three positions, and I'm afraid if you want to do that, you have to pay through the nose. So why shouldn't we? God knows we're making enough money these days.
And obviously no-one's going to pay £50m for a full-back, because no-one would ever try and buy Lahm. But if you wanted to and he was for sale, that would be his going price. It's ridiculous to suggest that full-back is some kind of cheap after-thought of a position full of 'failed wingers and centre-backs', or whatever it was.