The price of top end bikes has increased faster than the inflation rate. Using a CPI calculator, $2000 in 1986 dollars is equivelent to $3612 in 2006 dollars.

In 1986, $2000 would just about buy you a top end bike.

In 2006, $3612, won't buy you a top end bike. It would buy you a better bike than the $2000 1986 bike.

But the top end has been pushed up with more features, and lightweight materials, aero wheels etc.

So the price of a comparable bike is probably no higher, maybe even lower today, when you adjust for quality. (for example a $1500 CF, DA equipped bike from Bikes Direct, is arguably a better bike than the handmade steel frame with Campy Record circa 1986.)

However, the cost of acquiring a top end bike has increased in real dollars, because the top end has been pushed higher.