They dont _NEED_ to raise their pricing, but the contract they have with ICANN states they _MAY_ raise their prices with a fixed percentage, which means as much

They dont _NEED_ to raise their pricing, but the contract they have with ICANN states they _MAY_ raise their prices with a fixed percentage, which means as much that they WILL raise their prices with this percentage every year. It's not like you are going to migrate your domains to a different TLD.