According to the Daily Star, the programme's bosses were forced to "lay off" cameramen and scrap plans for expensive bushtucker trials because so much of their budget was eaten up by paying for the glamour girl.
Price, whose fee was rumoured to be £350,000, later quit the jungle after just one week.
A source said: "The booking of Kate Price has really cost this show. A lot of money was spent on her and, as a result, cuts had to be made elsewhere.
"The producers genuinely thought having Jordan go back into the jungle after her split from Peter Andre would be a great coup. But it has blown up in their faces."
The insider added: "Cuts had to be made. ITV is already cash-strapped like other stations. But a huge slice of their jungle budget went on Jordan. Now they are wondering, 'Was it worth it?'"
The final of I'm A Celebrity... Get Me Out Of Here! airs tonight from 8.30pm on ITV1.