Even though wages are last to adjust, over the long term inflation is good for those with a lot of debt at fixed interest rates. Those large debts get smaller over time and eventually wages catch up.
Note the qualifacations on that though. Change any and things change. In the US real estate often does fit the specifics.
Those are a minority of all debts by total value. People won't refinacne to a higher rate, and those who get high rates plan to refinancing in a few years when rates improve (might not happen but that is the plan)
For a bit over half of Americans inflation is good for their situation over 10 years.
Note the qualifacations on that though. Change any and things change. In the US real estate often does fit the specifics.