Your grandpa could buy a new car for $1500. More like price went up 20x. Incomes have not kept up with this even if you can argue that a new car today is 10x

Your grandpa could buy a new car for $1500. More like price went up 20x. Incomes have not kept up with this even if you can argue that a new car today is 10x as "valuable" as one built in the 60's. And, the people making the call on those gray areas have an incentive to adjust reported inflation downward.