I spoke to Redington and the price increase is real, although the amount of the increase is still tentative (or so they say). They say that they're "fighting" with EA to keep the price down and they're officially saying that its due to an increase in customs duty. But I think this is Redington's internal decision because more than anything else because:
1. No other distributor is incresing prices so there definitely isn't an increase on duties. If there is, only Redington knows about it, which is very unlikely.
2. This isn't EA's decision, otherwise there would also be a similar increase in PS3 game prices, which Milestone says there isn't.
I'm still finding it hard to believe that EA would allow Redington to increase prices to a point where they're literally inviting people to buy from grey or pirate.
Since Redington also distributes MS first party games I also asked them that wil there also be a similar increase in MS games (since the alleged increase in customs duty would affect all), and I got a very vague "no comment", which further leads me to believe that this increase on EA Xbox 360 games is Redington's internal decision. And they did also admit that the price increase is partly also an internal decision.
I've also spoken with WWCDROM and E-Xpress. Neither have heard of any customs duty increase, nor are they incresing their prices. E-Xpress has already set prices for their games for as far in the future as March.
Bottom line is, if you're interested in buying an EA Xbox 360 game thats already out, buy it this month. After Jan, import. I hear EA games are region-free now. As for all games other than EA Xbox 360 titles, nothing changes for now at least.
peace

You've got the right to say what you want
We've got the right to punch you in your f**king mouth if we disagree