Household income is not wages. If people work more hours income goes up while wages are flat. That series only includes full-time workers. High earners are doing better, that's the k-shaped economy. The upside of going to college is being carved out by changes in the labor market. A more representative measure would be average wage for non supervisory roles which is flat since the 1970s. Lower earners face higher inflation than the CPI because more of their paycheck goes to necessities. CPI shelter is what I'm interested in.