This is an obvious and simple explanation yes but I think it’s only part of the story. CPI numbers are brought down by considering a lot of non-essential goods while almost everything you actually need — food, shelter, healthcare in particular has gotten considerably more expensive. So the sentiment is exacerbated by the fact that nobody really cares whether TVs etc are getting cheaper in their day to day lives.

Given that there's been a massive shift in allocation of spending due to the pandemic I would take any claims like this with a now expensive grain of salt. Let's not forget at the start of the pandemic toilet paper was going for $1 a roll.

this.

presentation bias is everywhere.