I don't think you appreciate the inflation free lunch. Prices will rise but so will wages (probably not as much) so the highly indebted get to pay back their loans with worthless tomorrow dollars. 10 years of 5% inflation halves your loan all else being equal. Hard on people who don't have any wealth but great for the risk takers or those already wealthy.
Inflation is a tax and it hits the poorest the hardest but after John Key raising a regressive GST to reduce progressive income tax rates it has become obvious. The poor don't vote so they get what they deserve good and hard.
It is hard to see central banks doing anything as they need inflation to clear the debt. The only problem is they seem to be increasing the debt just as fast as inflation is getting rid of it.
Why do you think property investors prefer interest only? It is because central banks can take care of their debt they don't need to repay it.
Inflation could also be considered theft, but it is state sponsored so it is OK legally but morally...? who knows.
https://www.rbnz.govt.nz/research-an...in-your-wallet
The balance is rescuing the poor from soaring inflation with rescuing the rich from asset-wealth destruction. I think we can guess which way it going to go based on recent history.
https://www.zerohedge.com/economics/...ly-hawkish-fed