Most inflation goes into housing costs (which flows into rents), because supply is limited and prices are never set but float in competitive auctions and vary from town to town. We've seen housing prices continually skyrocket. As a society the non-rich aren't getting richer, they're just putting more money into their mortgage and burying themselves in more debt.
IMO if we want to help the poor and middle class we need a more regulated real estate industry including possibly price controls on housing, and then by extension rents (some of which currently happens).
And housing price inflation seems to be completely decoupled from wages (which have pretty much flatlined since the mid 1970s.) I agree more needs to be done to make housing affordable and accessible which is why I think you need a full suite of reforms including some kind of UBI, but not a uBI alone.
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