Exactly, and I'd like to point out that you having to explain this goes to show we aren't teaching economics properly (or at all) in school. The school systems focus on make sure our children are well rounded in every way except financially.
This is like lamenting that kids don't know enough about Chaucer or don't understand that evolution only applies to populations, not to individuals.
These kinds of small details will be forgotten intentionally by most people within months of learning them.
Quite frankly: I don't care if kids come out of high school with a functional knowledge of the effects of an inflating currency: I'd rather they understand personal finance instead of macroeconomics.