In 1951, a "High Pop Automatic Toaster" was priced at $21 dollars (nominal $). In 2014, Kohl's is selling a better $5 (nominal $) toaster. I realize that this is a simplified consumer price index but this 76% reduction in price is the tip of the iceberg. Nominal wages have risen over this 60 year period and real quality adjusted prices of durables have probably fallen by 95%. To confirm this claim, we would need to do a hedonic quality adjustment (see Pakes) in order to have an "apples to apples" comparison of pricing the same product such as a toaster with a fixed set of attributes at different points in time.
So, why are there such concerns about the standard of living of the middle class? Does "Black Friday" apply to everything we consume? No. College tuition is quite expensive (because it is labor intensive with professors and unionized workers). Homes in some cities are expensive (both because of supply and demand but in our most expensive cities --- housing supply regulation is the major cause).
For pessimists, what other goods are increasingly expensive? If you say "meat", I would counter that its quality has improved over time and I would note that food is just 13% of your budget so meat would be only 4% of your budget -- your "inflation" exposure from this price rise would be tiny and then we would subtract out the deflation in prices for goods such as cell phones, computers, toasters, cars and all other durables in your home.
Paul Krugman and friends should take a sober look at the Consumer Price Index and acknowledge that quality adjusted CPI is falling over time. The Boskin Report's main findings should not be forgotten.
Here is a technical report written in 2006 by the BLS where it talks about its efforts to keep up with the ever changing economy.