Inflation's greatest impact is on those holding cash reserves or dollar-denominated assets: bank deposits, loans, mortgages, bonds (federal, state/local, corporate), insurance policies, annuities, cash-denominated contracts, and the like.
The cash-poor with few or no financial holdings or savings, are largely unaffected, as are those holding non-cash assets (real property, capital, commodities, stocks).
The cash-poor with few or no financial holdings or savings, are largely unaffected, as are those holding non-cash assets (real property, capital, commodities, stocks).