Interest Rate Nominal Rate of Interest measuring interest in terms of the dollars paid even if inflation erodes the value of those dollars. Interest unadjusted for inflation. Real Rate of Interest the rate of interest adjusted for the rate of inflation. The rate of interest expressed in constant purchasing power. When the price level increases, more must be spent to buy the same goods and services.
Inflation affects everyone.
It is different than unemployment. Not all people will suffer from unemployment. Everyone suffers from inflation. People also see inflation as a penalty that robs them of their purchasing power. Those with fixed incomes are retirees on pensions, older adults on Social Security, etc.