High inflation usually goes hand-in-hand with some degree of corruption that immensely benefits the connected and powerful.

In Venezuela the government implemented exchange rates controls which were much more favorable then market based rates. Those with privilege and connections could purchase dollars at the official rate and then sell them at market rates at 10x what they paid for them. By this method an immense measure of the nations wealth could be expropriated.

Commodities can be siphoned from producers with price controls and then liquidated at market rates. Eventually asset owners can be forced to sell when they can’t produce what is demanded at below market prices.

Those that are close to decision makers can front run markets as the everything degenerates into a command economy.

While not all inflation is theft inflation can facilitate theft on an epic scale. At some point all economic and political power shifts to those that benefit from inflation and it becomes politically impossible to “fix” inflation as power derived from it.