Well, there are very expensive things and a little cheaper ones, but you'll never get the cheapest price out of something ethical. If a product costs way cheaper than the competition, it is definitely produced out of shady ingredients and in unsafe environments exploiting people (not even speaking about animals).
Ethical products are not as easily found, produced and sold as unethical ones. Making sure they are free of hazardous substances, not tested on animals, fitting the standards for sale, produced in safe environments where workers are protected and paid well, and all this while providing good quality... all that costs money, and a company will sell if it has profit, otherwise they won't survive under capitalism. It depends on your standards, some products are not crazy expensive and most people
are able to afford them, but some can't.
When you check the labels, what they claim is true and verified, but make sure you know what the label exactly entails. It may require quite a lot of research. There are at least 3 different cruelty free labels in the EU that I know of, and they all mean slightly different things. It's in the details and it can be very surprising and not what you expected, but in the end you're the one to choose which one fits your standards.
Also, keep in mind that products that are not tested on animals may contain animal ingredients, so they are not "cruelty free". To get both, you need it to be cruelty free
and vegan (official labels exist for that as well). On the other hand, companies pay to use a certain label, and that is when research on a brand is necessary if they promote themselves as cruelty free or vegan but don't wear official labels. They can be lying or not.
All that being said, in case you're not well educated on a brand/topic and you do see a label and can afford it, there is always a greater chance that it is slightly better than one without the label, so I recommend you take it.