That's true for many things. When currency inflation is considered and real wage growth is taken into account, prices for many things are not remarkably higher. For example, an average car in 1960 was in $2600 range which would be around $50,000 today. If anything, the real price of cars has gone down (not to mention the multitude of features new cars have that a 1960s vehicle did not).
However, what this doesn't take into account that in nations like the US where there is an income tax, the inflation-driven increases in income have not had full corresponding tax bracket indexing. This represents a growth in cost due to higher incremental income taxation over time. Similarly, the current tariff posture of the US is effectively a form of taxation on the consumer here.
I am taking no particular policy position here, only noting that the math is the math. The current incremental cost of Ilford product in the US maps almost perfectly to the tariff rates on UK goods as I understand it.
So while goods may be about the same or even less expensive today, a full accounting would require taking into effect all tax, tariff, VAT, and so on implications as well.
You can really see this with the cost of film. I started shooting Tri-X 120 around 1970. It was something like $2.50 per roll. Adjusted for currency inflation, that would be about $21 today. So, in real terms, even assuming some error in my estimates, Tri-X 120 has gone down in price quite a bit.