[pjc50]

The poor aren't affected so much by monetary inflation as by old-school wage-price inflation. If wage inflation > price inflation, they're winning. Considerable effort has been invested (mostly by Friedmanites) to suppress the mechanisms of wage inflation. Conversely, if wage inflation < price inflation, that's a serious and immediate cashflow problem which will eat up their savings far faster than mere inflation will.

> typically have only few thousand dollars in cash deposit savings see their money being wipes out by inflation

10% inflation on $1k savings vs 10% inflation on a $20k salary: you do the maths?