Wage data, population growth, overall consumption, credit (and guarantees against it) are all drivers of inflation.

Look at student loans vs the cost of college:

1958: Federal program to encourage science and engineering. 1976: Remove restrictions on bankruptcy dismissal of this debt. 2005: Same rules for private loans.

Today college has a (as someone here so eloquently put it) a cruise ship ascetic, and has far more "administration" than "eduction" in terms of raw staff.

Tv went from an expensive box (fixed cost) to cable (monthly fee) to on demand programing (several monthly fees, and with ad's).

A phone used to be a single item in your house with a monthly fee. It was an item so durable that you could beat a robber with it and still call the police (see old att, black rotary phone). Now its an item per person in a household, that you can easily loose, might break if you drop it, and costs any where from 200 to 1500 dollars.

None of this is inflation in the traditional sense, but it does impact the velocity of all money in the system, and puts pressure on individual spending in a way that isnt even accounted for in this chart.

I wont even get started on housing, but I will leave this chart behind and ask those who care to point to the housing crisis on it: https://fred.stlouisfed.org/series/RHORUSQ156N