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Ibe went to another PL club, and PL clubs have more money due to the new TV deal, meaning selling club can drive up the price a bit. He also had 4 years remaining on his Liverpool contract, having signed a 5 year deal in May 2015.
Pritchard is going to a Championship club, specifically one that doesn't have a massive budget.
£5 million for a player that was never likely to break into the first team is fine with me, especially if there are additional add ons.
Price can also be greatly affected by add ons, buy back and sell on fees. Maybe Ibe's deal has none of these.