My current/previous bid price is 20 cents. At that level I was previously on the first page and I was receiving a constant but modest stream of impressions and click throughs (but "modest" is good in my esoteric area).
Google now demands between 45 cent and 80 cents to appear on the first page. (Note that in most cases NOBODY is currently appearing on the first page for these keywords.)
Thus, to achieve approximately the same results as I was a couple/few months ago, I would have to pay an average of three times as much as I was previously paying.
Does that information make it more clear?