The production of higher quality art assets, lossless audio, quality voice actors among many other things have increased the cost of making a game.
This is Super Mario Kart from the NES
This is that same track reimagined on the Switch for Mario Kart 8 Deluxe.
Yes, we have the technology to create this, but developers need to harness far more tools. Art, by far, takes up a lot of resources, as the programming of bringing all of this together.
See how much Madden cost, that was a long time ago. Still the same price.
Last I checked, Madden 97 on the SNES looked like this
When Madden 18 came out, it looked like this
Staked for inflation (I'm an accountant, this is how I think and what I do) That same 59.99 spent in 1997 is this
When both Madden 97 and Madden 18 dropped, the base game for both was 59.99
CPI Inflation Calculator
Movie prices have definitely increased in price. One of the reasons that prices have relatively stayed the same is because gaming is now a more accepted pastime with a broader reach and other forms of revenue like season passes, merchandise opportunities, etc. However, the cost of admission, as it has largely been since the advent of the NES, is 59.99 for most new games.