Your phone might be $220, but I'd say on average people are spending just as much on devices as in the late 90s. Even with your graph you can see the iPhone X is about the same price as the Motorola and Nokia. Obviously the iPhone X can do way, way, way more than those phones and has significantly better hardware and features... but my point is that normal people aren't seeing those technological deflationary savings because companies find a way to keep prices high... which helps inflation.

At the moment my household pays $95 a month for cell service through Verizon. This is the cheapest package they offer. We're in an area where we can only get Verizon. AT&T and T-Mobile don't provide coverage here. So even though the costs of individual calls is cheaper, data is cheaper, I don't think people on average aren't paying significantly less than they were in the late 90s. The prices haven't been deflationary even if the cost of the technology has been.

Sure... stock trading has reduced in cost... but so many more things are more expensive than they were.. housing, education, healthcare, cost of living, etc. I'm finding it hard to think that these things will be dramatically cheaper in 10 years. They'll surely be more profitable, absolutely, but they won't be cheaper.