There are two types of consequences: if you have money on your bank account they lose their purchasing power because you are subjected to an "implicit tax" because your saving are cut by the increasing in the price level. So you should be able to invest your money in bond or in the Capital market in order to close the gap with the inflation rate.
Obviously investing you can achieve more profits but losses at the same time, due the equation more yield and more risks.
If you want an advice you can just think to invest your money in bond because Central Banks will decrease interest rates in the long run because inflation is falling sharply.
When you are holding anything you consider of value; fiat, Bitcoin, gold, cars, silver spoons etc. you are already investing in something that has a value which goes up and down. And during inflation, fiat is the investment which loses value. So obviously it is smart to come prepared and know what else you can invest your fiat into.
Or you can diversify and not have to worry about one thing. But as a rule of thumb, you should expect most of your investments to go down during inflation. There is no need to fear it. It has happened and will happen again. But that does not mean it will last forever.