Because this is a game, not water, food, clothing, shelter, or medicine.
It is not difficult to bypass geo-restrictions and purchase stuff in a different currency. Look what I posted recently:
If everybody used a virtual credit card service like I did (for a digital product from a different company) to purchase EVE subs through the Russian portal at the previous rates, CCP would have lost half their income overnight. By raising prices, CCP ensures that they maintain their income whether or not players attempt to bypass geo-restrictions. If this were a tangible good then prices could be relative to the cost of living, but since this is a digital good it has to be relative to a minimum baseline price.
It’s also worth noting that PLEX is a thing and it’s not hard to acquire via in-game means even from Alpha state, and that the game actually has an Alpha state is something to be grateful for, so there’s really nothing to complain about. EVE is a luxury; if you cannot afford the luxury then it is unfortunate but at least CCP’s reasons for raising prices were not out of greed - they were quite sensible.