It's not just about adjusting purchase prices for inflation, you have to compare the wages available at the time as well. I doubt wages have increased by the same rate of inflation compared to then, people had more buying power with their income. Not just comparing minimum wages either, more jobs paid above minimum wage back then and often included benefits that aren't included anymore, meaning those things now have to be paid from their income as well. There's less disposable income today with most people.