I can't find the link, but an economist made the argument that college has gotten cheaper because although costs have gone up so has its utility. So it's a "more for your money" sort of situation. I personally don't subscribe to this view and it's not something one can simply state as a fact.

Similar to how say an automobile's year-over-year price may have increased by 5% but the adjusted value is 2% because last year's models didn't have side airbags as standard or something like that.