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.
Keeping savings in fiat that's suffering from serious inflation can indeed lead to significant loss of purchasing power. Apart from investing in something, there are other things one can do in this situation. One is to simply exchange local fiat for a much more stable fiat currency (like the USD) and keep the savings. Another is to spend the savings, or at least a part of them. This way, you can buy some important and useful stuff, while also doing your part of stimulating the economy, as you spending money means keeping the money in the flow because someone else then gets that money as salary and spends it once again elsewhere.