Help in understanding something about stock markets and inflation

My background isn’t in stocks. But I think I invest well in my indexes and blue chip stocks. I’ve learned a lot since I started investing.

But there’s something I can quite wrap my head around, and that’s how stocks react to inflation.

Especially prudent since we all expect inflation to get worse this year.

But as far as inflation and stocks go… wouldn’t that HELP many of them?

Like take Coke a Cola. If the price of a 2 liter bottle goes up 10%, would their earnings go up 10% as well? Or is it a wash because ingredients and shipping also go up?

I would ASSUME the latter. But I’ve also read that inflation (in a controlled non Trump way) is a long term driver of stock growth. By devaluing debt and like owning more valuable assets (jet engines factory at GE)

Either way I just can’t wrap my head around it in a way that makes sense.

Does inflation help or hurt stocks long term?