25 years ago I paid £400 for a rigid 15 speed Specialized Rockhopper with friction gears and cantilever brakes.
A couple of weeks ago I bought a Boardman Hardtail pro for £900 with Reba Race forks 27 speed X9 XO gears and avid elixir disk brakes.
That is a price rise of £20 a year.
So while bikes may be expensive it’s nothing new. And when I bought that Rockhopper I was going in to the Muddy Fox shop in London looking at bikes that cost £1000 even then.
And you could always resort to buying the bike you need rather than the one you want. :-)