If you look at holistically at the number of working hours a middle class family required to run a household: own a house, car, pay utilities, food and have a quality of life : those hours are far higher . You now have two full time workers with lower quality of life.
Some technology and conveniences have concealed that but it's easy if you look at major expenses like housing, food, quality apparel, child care, education, healthcare.
If you don't believe me, look at census records from 50s-70s and see what professions lived in high class neighborhoods like Palo Alto, Berkeley , West Los Angeles, SF etc. You will see plumbers, carpenters, factory workers living in neighborhoods that are now occupied by 90th percentile incomes.
True inflation is # of hours working vs quality of life and assets earned. That figure is far higher than claimed CPI