It devalues money of the rich and of the poor. However, the poor suffer more in inflationary environment. If you spend 80% of your paycheck on housing and food, 30% inflation means you can't even provide to yourself. When you are rich end spent 8% income on housing and food, 30% increase will mean, now you spent just 10.5% of your income on housing and food. You need also to understand that rich benefit greatly from inflation because inflation will show up also in stock market prices (rich own stock), real estate prices (rich own real estate for rent), etc. Inflation is always poor getting poorer and rich getting richer.