Key word is proportionate. Inflation disproportionately affects those with low income. The affects are not linear—look at the difference in pct income to food i

Key word is proportionate. Inflation disproportionately affects those with low income. The affects are not linear—look at the difference in pct income to food in lowest quintile compared to others. A dollar from the lowest quintile is objectively more valuable in purchasing power than three dollars is to the highest. It’s akin to the company town giving a buck more in wages but charging 2 more in groceries. Sure you make “more,” but since you can buy less of what you need, you are effectively making less. https://www.econlib.org/library/Topics/HighSchool/RealvsNominal.html https://www.econlib.org/library/Topics/HighSchool/RealvsNomi...