Not sure if this is a Morroblivion problem, but I am seeing prices of enchanted items are exponentially high. E.g. Fargoth's ring, found in the barrel of the Excise office, has a value of 300030 septims in my game!!
I understand that LAME might be responsible for some of these changes, as Enhanced Economy has a section where it talks about the feature of repricing of magical items, and how LAME is responsible for escalated value. I tried using Enhanced Economy's feature, but it does not seem to affect the prices.
Curious to know if some of you are using Morroblivion with LAME, and what are you seeing re: the values of magical items.

Yeah, the game calculates
Yeah, the game calculates prices of enchanted items automatically based on base item value and a 'Constant effect barter factor' setting in a magic effect. That is really unfortunate in case of Morroblivion items, which were supposed to be cheap.
And LAME makes it even worse by increasing 'barter factor' of almost all effects. For example, for 'Restore Health' which Fargoth's Ring has, it boosts this value to 100000, so I guess the price you posted was actually calculated correctly. The thing is, game considers this item to be constant effect, but it really isn't.
I think enchanted item repricing needs to be activated in EE's ini file. What are your settings in 'Settings to control value of enchanted items' ini section are?