Inflation benefits debtors while it penalizes savers but the poorest segment of society is neither savers (as they have no disposable income) or debtors (as nobody will lend to them) and are hurt the most from inflation.

A high net worth individual may lose expected future income due to inflation but someone that is poor may not eat today because of inflation.

Eventually when inflation gets bad enough and real rates are negative producers will simply sit on commodities rather then distribute them. Leaving the oil in the ground maybe a better looking term wealth preservation strategy then pumping and selling the oil.