That's an overly simplistic view of what is going on. A modest (<15%) rate of inflation
that is driven by wage increases is actually a Good Thing for the majority of the population, because their real standard of living depends much more on the real value of income than it does on savings. And don't forget the role that debt and nominally fixed contracts for rent or mortgage play, either. If real incomes rise during an inflationary period, the majority of the population will be better off afterwards. This is not an unrealistic scenario, by the way. It happened several time throughout the 20th century.
It's just that most people confuse inflation with hyperinflation - the latter is not so much "inflation writ large"; instead it is an outright rejection of the old money system, which is a huge qualitative difference.