Indesign dimensions incorrect with image frames

I place and text wrap a lot of photos for page layouts. I've started having a problem with text wrap dimensions being insanely inaccurate on some placed images.

It's like InDesign is scaling the values. Screenshot attached below.

You can see clearly that it thinks there's a 1p0 margin on the left of the photo. However, the gap between text columns is exactly 1p0, and obviously the light blue margin line is only about a third that size. Similarly, the bottom margin in the screenshot is obviously not 8p7 tall. It's only 2p11 tall (that's the height of the box I added in to check how off it was).

Is there a bizarre new scaling setting that effects text wraps? It's quite frustrating.

This is on the newest version of InDesign.