Phone contract prices?

Is it me or have they gone ludicrously high?

The last time I got a phone (HTC One X in 2012), my contract was for £25 a month. Way more than what I needed.

Now for the latest phones (HTC One M9/Samsung Galaxy S) the contract prices seem closer to £40 - and often with way way less data.

Then again since my phone is often a glorified watch, I should invest in a smart watch instead... it'll last til midday atleast.