It's alarming to me how few people seem to get this. Inflation is simply tracking what a dollar is worth. Value of a dollar fluctuates all the time to begin with, but companies don't like to change their prices constantly because it's bad for marketing, bad for retail organization and appears petty. In the same way a restaurant can't print new menus every day just because of a cost fluctuation. I'm sure there were times that Japanese companies wanted to add a few dollars to their games because they feel the weak dollar directly when they transfer their money to yen, but didn't.
The value of a dollar changes regardless of whether the items it's being used to buy change in price. If inflation increases, and the prices of those goods don't increase at pace, then you're simply paying less money than before for the same item, and the company is taking a hit. It won't be such a "theoretical" idea when that company tries to exchange that money for its own currency and finds that it gets less of it because the value of the dollar was destroyed. Or when its own employees want more money to compensate for their own increased costs due to inflation.
When we talk about inflation, it's all other things being equal. Sure, prices can go down or up for a multitude of reasons. It could be more efficient production, or supply and demand, or anything else. Those things don't change the value of a dollar though. They're independent of inflation's effects. Yes, many companies try to absorb the hit, but there's a limit, if inflation keeps rising they will eventually bump it.
Let's say that due to more efficient management and processes, Sony managed to shave off $5 of 2017 money. That would equate to a game being about $65 today. Sony actually continued selling games at the same $60 despite losing money on inflation for years, and waited for the gen change to do anything about it because it was just smarter timing to hit everybody with it.
Nintendo's evergreen $60 titles are essentially "Player's Choice" cheaper versions now due to inflation. They would be smart to simply let them sit as they are and whistle nonchalantly.