$60 is already too much as it is, I generally only buy games once they reach the $20 mark or lower. I also don't buy DLC or microtransactions as I don't like those either.

Pretty much this.

There have been a few DLC which I bought, especially in the first Dragon Age (the different Character prequels and the one where you're part of the blight) and from Nintendo (Hyrule Warriors and MK8 Season passes where well worth their money imo, as choke-full of content as they where), but that's about it. Nintendo games are also the only ones I buy at full price, because they don't devaluate their games anytime soon.

If games were really too expensive to make, I would suggest the following:

Train your consumers to value your games at a higher price.
It is not uncommon to see publishers release a game per year, in their big franchises; don't do this.
It is not uncommon to see publishers sell their games, below $60 (price cuts); don't do this.
Make a good game.

Hire a talented marketing team, that can do an effective job, with a tight budget.
Market smarter not harder; reach more, passionate people who will sing your praises.
Don't do dumb stuff; don't make: anime, CGI movies and spinoff games, to market the low profit margin product (Square Enix).
Market often but not irresponsibly.

...
you get the point.

I am not a fan of loot boxes and pay to win, especially when the developers intentionally make it a 500 hour grid if you want to play to earn. That said, I think elsewhere the industry is actually in very good shape.

Personally, I by games in tiers.

Tier 1) I Pay for the ultimate deluxe editions for games I really like, and want to support as much as possible, usually $79.99 - $149.99. If they do additional content I feel is worthy of my continued support I have no issue with DLC. If I loose interest in the game, I don't buy the DLC. I will not buy anything that can be unlocked through playing the game though.

Tier 2) Games I am willing to pay $59.99 for on day one, but am not into enough for the deluxe edition. These games have the oppertunity to win me over, and I may by the season pass or DLC if that happens.

Tier 3) Games that I wait to drop to $30, these are titles I either have a slight amount of interest in, or remasters that I already have, and didn't feel the need to jump on day 1.

Tier 4) The mega sale games. These are games I have only the smallest of interest in, but I try to be as open as possible, and play as much as possible. Mega sale titles can be anywhere from Free - $19.99. Sometimes I have found some gems, in this department. Just like above, if I find I actually like one of these games, I have no problem paying full price for a season pass or DLC to support the title. Probably the best example of this is The Crew, I believe I got it for $5 or $10 last year, and ended up paying almost $60 overall for the remaining DLC, because I ended up really enjoying the game.

So my take is the industry is doing quite well. We have options to by games from Free - $149.99, with DLC available that you can buy into if you please. I am fine with that, I just don't want gambling to become of main stream games. Don't bring gambling into God of War, Uncharted, Forza, Halo, Mario, Pokemon and such. There is a place for it, but not in the mainline games. We just need to ban together to make sure we hold AAA titles to a standard, because these should be world class, untainted expereinces.

Get ready to buy some eggs.

Did they get in trouble for that?
They had it all the way into gen four.

I am pretty sure they only removed it so they could keep a child friendly rating.

Games that are £40-£50 are discounted.

If you walk into GAME or go on PSN. You will see most major releases are £55 even sometimes £60. 
The prices of games hasn't changed since the brexit vote devalued the pound, they were that expensive before June 2016. I remember seeing The Crew on PSN for £59.99

Maybe later in the PS2's life that was the case but I remember buying PS2 games, new releases that were £30 standard. Inflation hasn't doubled since then.

Do we have data that supports increasing development costs adjusted for inflation?

Do we know how the cost of goods sold has changed? For example, how much the price of a blu-ray disk has changed since the inception of the PS4? Or the plastic cases? Or the manuals (or lack thereof)?  Or how about transportation and fulfillment?

From what I've heard, they dropped the casinos from the Pokemon games in order to drop the overall rating for the games so it'd be E for Everyone. I think the gambling games caused it to get a 13 and up rating, which they didn't want. I think the digital re-releases of the old games have these higher ratings.

As for the main topic, I'd personally say I am fine with the current price of games, mostly because my games of choice don't really suffer from these problems such as microtransactions and lootboxes. There are some dlc to some varying degree but I don't think it's problematic. The games I've been playing recently feel complete on their own mostly, so it's not much of an issue for it. I do fill the problem is partially on AAA since they always seem to need to produce the biggest games possible, while I don't agree with that. Some of that seems like 'fat' to me.