I just checked China's Apple page. And the standard storage prices line-up with current prices. It's the 2nd and 3rd tier storage prices that are increased here (along with the storage amount, tbf). Could be true.
Also could be true if the rumour of a price hike is true - the higher storage models are seeing a price hike while the standard storage (128gb, 64gb) keeps the entry into the iPhone the same more or less.