Inflation helps debtors (because the real value of the nominal debt is reduced by inflation - debtors borrowed "high value" money and later, after inflation, ca

Inflation helps debtors (because the real value of the nominal debt is reduced by inflation - debtors borrowed "high value" money and later, after inflation, can pay it off with "low value" money) and hurts creditors (same reason, just the effect is reversed). Rich people are (mostly) creditors. Poor people are (mostly) debtors. Inflation tends to hurt rich people (creditors) and help poor people (debtors). The people who run the economy are almost universally rich, and are (coincidentally, I'm sure /s) almost universally opposed to any increase in inflation. Side note: assets (real estate, gold, ...) are mostly inflation-neutral since their prices go up at the same rate as the prices of everything else. Where poor people do get hurt is when consumer prices go up and wages don't but that's not inflation - inflation is when the price of everything goes up, including labor i.e. wages.