I completely agree that it's not going to win votes. I think the takeaway is that the average consumer is not a particularly rational actor (much to the chagrin of economists), and your messaging needs to address the actual source of their frustrations, which may very well be the mere fact that the numbers got higher even though their purchasing power hasn't actually decreased.
I'd emphasize how you said that the average Americas is clearly not feeling the benefit, because I think that holds a really key part of this. Consumer sentiment does not necessarily track actual data, whether they're high level metrics like GDP or more individual ones like inflation-adjusted wages.