Spiraling Out ($5m> ad spend)

Hey fellas. I've spent around $6mn on meta over the last 3 years. Used to spend >$500k/mo over the last 12. The primary brand i work with has experienced CPMs skyrocket ever since November 2024. I thought the initial bump was due to BFCM season but CPMs and CPCs have yet to recover. Spending about 60% less than I forecasted now that it's March. It's effecting all product categories and offers.

I've tried new pixels, domains, pages, ad accounts, and nothing's worked. I've had a fair uptick in ads getting rejected due to "unacceptable business practices" - none of the ads break policy and the manual review does not restore them. I can only have them restored by contacting support via chat. I don't have a rep due to the portoflio as a whole having restrcited assets. So maybe that's a correlation...

Anyone have any idea what could be the issue here ? Engagement/CTR/CVR has remained stable - it feels like a surcharge for CPMs is being added to my portfolio or target audience. So bizzare. I'd pay a lot of money to get someone from Meta to look at my account haha. Would love to see if anyone else on Reddit has seen similar CPM/CPC spikes since Nov. 2024 - all-time-highs (this account has been live for 8+ years).

fyi CPMs are ususally $10-$15 rn. but are $35-$40 now. 300% increase YoY.