Time Cost of Goods: Yesterday vs. Today
Data in the chart above (click to enlarge) are from the Dallas Federal Reserve Bank, 1997 Annual Report, and show the significant improvements in living standards and purchasing power over time. Prices of various food and household items are stated in "time cost," i.e. the number of minutes or hours that the average person, working at the average wage, would have to work to earn enough income to purchase various items in different years.
It should be emphasized that this analysis is for the average person, earning the average wage, i.e. the middle class (not the upper class), and the increasing affordability of commonly purchased items means that the average, middle class household is living at a much higher standard of living now compared to previous generations.
The good old days are now. And things keep getting better all the time.