Saving ones money is good but could be a disadvantage during inflation. During inflation, price of goods might have increased rending your saved money valueless. In 2020, a friend bought his middle generator at #46,000. I had the same amount but decided to save mine in bank. Last week, I decided to buy the same generator, just to check a store online to see price was now around #85,000.
See the difference in price within 2 year. Bank can never put such difference as interest on the saved money.
CONCLUSION
During inflation,
👉👉always purchase all you need on time without delay to avoid rapid increase of such commodity.
👉👉Unnecessary saving should be avoided. Savings should only be made from excess income which one doesn't need at that moment.
Lastly, investing is highly preferable to savings.
While inflation is a big factor as you described it, we are still barely over Covid which broke all sorts of supply chains, many jobs were lost and in some countries people were very limited with what they could do for up to 2 years. Places like China, which produce all sorts of things - from the smallest of components up to the larger finished products themselves, is currently still undergoing a weird zero Covid strategy instead of just accepting it like the rest of the world. It's bizarre to see their huge manufacturing hubs shut down with very little notice after just a handful of cases, which can cause months and maybe even years longer disruption. The war in Ukraine is also causing basic staples like food and oil to go up, which has ripples all throughout the economy.