Your argument rests on the assumption that poor people consume a set of goods completely distinct from middle income and wealthy people. If the price of a loaf

Your argument rests on the assumption that poor people consume a set of goods completely distinct from middle income and wealthy people. If the price of a loaf of bread increases by 200% in an attempt to take advantage of increased purchasing power, why would the wealthier consumers accept this, if their income had not increased? Competition would put an end to rent seeking behaviour. And on the subject of low income housing, it's often highly regulated, and can't be hiked arbitrarily. If I've understood correctly, your argument is that the inflation in the basket of goods consumed by low income people exactly cancels out the increased purchasing power, I'm not sure you can argue that's definitely the case.