Depends on your time horizon. In the very short term, inflation linked bonds as other comments mention. In the 15+ year bracket, probably equities. Perhaps r

Depends on your time horizon. In the very short term, inflation linked bonds as other comments mention. In the 15+ year bracket, probably equities. Perhaps real estate at a low mortgage rate but it's not very diversified. Gold is commonly touted as an inflation hedge, but that's over a much longer time horizon, probably longer than most people are alive. In the end it really depends on the cause of inflation - expected vs unexpected, supply vs demand side.