Sure. And in the US there is a noticeable class with little savings but not "poor": Particularly noticeable when they have clearly not low income - but cannot m

Sure. And in the US there is a noticeable class with little savings but not "poor": Particularly noticeable when they have clearly not low income - but cannot manage to accumulate savings or have no interest in accumulating savings. They like more expensive cars than necessary, and homes, vacations, eating out, whatever. Little savings but can't be described as "poor". And for them also, inflation is not a significant factor. Their savings are low compared to income. Still: inflation not a tax on the poor but a tax on anyone with savings and investments. Some of which are poor, yes. One might say "liquidity" savings are particularly difficult to protect - but really, many investments are not a great defense either. Defending any investments against inflation is difficult. Among which, "throwing it in a fund" might keep it a little above official inflation numbers - but also might not provide serious return above that, and exposes emergency funds to volatility. So, to me, that doesn't solve the problem of inflation - poor or not. A tool, not a solution.