Some people don't see why we should be worried about inflation given the current situation. Actually there is a fairly large group of people receiving pensions, annuities or other fixed income streams for which inflation is a real concern. For example I will start to receive a fixed pension later this year when I turn 55. Since I could live another 30 years I would like to see this pension lose value due to inflation as slowly as possible. Inflation of 3% a year will halve its value in about 24 years, of 6% a year will halve its value in about 12 years and quarter its value in 24 years, of 9% a year will halve its value in about 8 years, quarter its value in about 16 and eighth its value in 24 years. These are significant reductions in a pension which is not overly generous to begin with.