About 10 months ago
Cloudflare has announced that they are inceasing their prices while introducing annual prices with accelerating innovation for the first time in the last 12 years.
From January 15, 2023, new user registration will be charged $25 per month for the Pro Plan (up from $20 per month) and $250 per month for our Business Plan (up from $200 per month). Any existing customers who signed up before January 15, 2023, including any currently paying customers at any point over the last 12 years, will stay at the old monthly price until May 14, 2023. Cloudflare are also introducing an option to pay annually, rather than monthly, while hopeing that most of the customers will choose to switch to annual plans.
Cloudflare launched on September 27, 2010 which had two plans at that time with one being Free Plan and Pro Plan that costed $20 per month. But after not raising prices for so long, they thought carefully about this and decided to make changes to their existing plans.
Lastly there's something that isn't going to change that is their Free Plan. It will still be free with have all the features it has today.
Further coverage: Cloudflare Blog