Wealthy people do not own much cash. Wealthy people own assets. The poor also do not have much cash, they consume goods to live. Inflation increases the value

Wealthy people do not own much cash. Wealthy people own assets. The poor also do not have much cash, they consume goods to live. Inflation increases the value of assets relative to consumption. Inflation increases the gap between the wealthy and the poor. Deflation reduces the value of assets and makes consumption more affordable. Deflation reduces the gap between the wealthy and the poor.