I just came from the gun show, where Miwall was there (thats who I used to buy my bulk .223 from). They told me the price increase was due to "supply and demand" and no other factors. People are just shooting more, and the production of ammo isn't keeping up.
The price of metals are up which causes an increase in costs to manufacturers. The future of mil surplus is also not too great with the UN pushing heavily for the cessation of import/exports of military ammo to the civilian sector.
It has gotten to the point that it is almost worth it to buy commercial ammo, unfortunately. Reloading .223 isn't terrible, but it is definitely more of a pain than, say, .45.
As for Wolf .223, it's cheaper (though not that much cheaper at this point!), but I find it to be slightly underpowered. Personally, I love Israeli .223.