The capability is going up also. Compare the functions and processing power of the new to the old ones. It's a mental model around base expectations. Same things with cars. There is a component to inflationary money for the same goods but then inflation of capability. The combination is what really increases the price. I usually buy a phone that is 2 or 3 years old. Been paying about $200 for every phone I bought in the number of years. I could go cheaper but like the larger scréens and better cameras. I don't. Have to by digital cameras anymore like i used to. I usually get 3 to 4 years out of one phone. Typically they just die on me vs me choosing to replace.