Many younger people do not know inflation. They have had little reason to think about real and nominal interest rates up to now. Their spending, investment and saving decisions have so far not been threatened by diminishing purchasing power.
People on small incomes are particularly affected by the current bout of inflation, as they now have to cut back on their spending amid high energy prices and have no savings to fall back on. This includes a large number of low earners and pensioners, many of whom are women.