Yep, its not really inflation making things expensive. It's that every company now knows scientifically exactly how much money they can get out of you. Not just how much but literally what minute of the day they can get more money out of you. Probably even charge more by what mood you are in at this point, that is not sarcasm.
The primary purposes of the data going forward will be: psychological manipulation by political factions and special interest groups, calculating the absolute maximum cost you will bear on any given item or service, and de-risking you to the insurance industry (by increasing your premiums or denying you coverage). In authoritarian societies, it will also be used to build the various lists of undesirables to be expunged, as defined by the current authority (wrong subculture, wrong origin, wrongthink).
You can be certain that they are using that data. The truth is that the data being collected about you is not intended to benefit you, it's being gathered and stored and sold to be used against you in any way that the person with that data feels might be an advantage for them.
It's not really about showing you relevant ads, or helpful recommendations, or useful product offerings. It hasn't been about any of those things for a very long time now. Your data will still be used that way, but while companies will tell you that is mainly why they collect your data that is a lie. Those are secondary uses for your data and making those things work well for your benefit is a cost to the companies and they are only willing to invest so much time/money/effort into that.
Your data is being used mostly for their benefit at your expense, and where it isn't being used today, it's being stored for a time in the future when it can be used more effectively against you. AI promises to make it easier than ever to trawl through all that data and find ways to leverage it to better manipulate you, or take more of your money from you, or further limit any possible risk you might expose a company to.
Companies don't want you to be aware of when and how that data is being used, so it's natural for you to feel like it's all being ignored, but you can sure that a lot of work is going into finding new and creative ways to put all that data to use.