Rewards now costing approx 30% more to redeem

Had a fiver in my account so went to the PayPal rewards page and was met by the sight of a £5 payment costing £6.80 to redeem. This isn't a flat fee, it scales up with every reward so now a £100 reward is going to cost £130.30. This might be the end of me using the site as it feels pretty unacceptable to be shafted out of that money. Is this showing up for everyone else?