Inflation: Great if you hold assets, but what if you're all in cash?

As central banks around the world release more notes from meetings on the direction of interest rates in light of trying to curb inflation, a very eye opening graph appeared on Twitter showing the purchasing power of the pound in 1751 versus today. It was something like £100 back then had the same purchasing power as £30,000 today. This equates to a loss of 99.7% of its value.

Can you afford not to be in hard assets?

You can find a very useful UK calculator here: https://www.in2013dollars.com/UK-inflation

which can be configured for other jurisdictions