Inflation is always a big challenge for retired people, especially in developed countries with the mentality that parents should leave alone and their sons and daughters should leave separately. In developed countries with this mentality, retired people, who didn't manage to build a business and collect a huge wealth, and those who depend on government pensions, will be seriously affected by inflation, it will be a huge challenge for them. That's why many people from such countries move to cheap countries.
The most terrible problem is that people in poor countries don't know about investment and they try to keep cash for their retirement. I know many people who collect dollars because our national currency frequently inflates against the dollar and they think that the dollar is a very strong asset, they completely ignore that the dollar inflates too.