So here's a few ideas that have been floating around my head since undergraduate university. It seems that money owned by the highest net wealth owners is always moving around and making a return, but only in markets that don't particularly affect the lower classes (debt and equity trading for example).
So might there be significantly different rates of inflation or expected rates of inflation for different income groups? As income inequality rises, would money demand also be lower for lower income groups and higher for high income groups, which would create inflation for luxury goods and such? If a central bank cares about population welfare and they know their policy may impact inflation differently for different income groups, couldn't this affect their planning/optimal policy?
I know these are a lot of questions. I am mainly interested in whether there have been studies or theories about any of these sorts of questions before and whether these questions are actually interesting, empirically. Feel free to give me suggestions on how to hone in this post; it's a lot of speculative questions, I know.
Edit: Otherwise, how might you guys approach this problem? How might you guys and gals try to model inflation for different income groups?