if you borrow money at what you believe is an appropriate interest rate for the level of expected inflation butthe actual inflation rate turns out to be much higher than you had expected you will be p

If the actual inflation rate turns out to be much higher than expected, you will be paying the loan back with dollars that have much less purchasing power than you had expected. This means that the value of the money you borrowed will be eroded by inflation, and you will effectively be paying back less in real terms than you initially borrowed. In this case, you, the borrower, will unintentionally redistribute wealth to the lender.