The US economy is a great example, just look at the historical real GDP growth. The cost of goods, houses, cars, etc. have all increased over the past 200 years, but few would say that our standard of living has decreased.
The U.S. economy has not had "high" inflation (there were spikes here and there, but over the long run inflation has been quite moderate). That's kind of the whole point of what the Fed is doing, preventing inflation from running away and causing major problems.