Almost everyone thinks inflation is evil, but this isn't necessarily the case. Inflation affects people’s life in various ways.
Creditors lose and debtors gain if the lender does not anticipate inflation correctly. For those who borrow this is similar to getting an interest-free loan.
The uncertainty of what will happen makes corporations and consumers less likely to spend. This hurts economic output in the long run.
People living off a fixed-income such as retirees see a decline in their purchasing power and, consequently, their standard of living.
The entire economy must absorb re-pricing costs ("menu costs") as price lists, labels, menus, etc. have to be updated.
If the inflation rate is greater than that of other countries, domestic products become less competitive.
On the other hand perspective of prices rising can stimulate companies to produce more.