This chart from Goldman Sachs Asset Management illustrates the fact that stocks (equities, black line) beat inflation in 100% of all 20 year periods, going back to the 1950’s. They’re a more reliable inflation hedge than commodities, bonds, cash or gold over long time horizons.
Why? Because these are the best companies on earth and they can raise prices as costs go up in the real economy. This boosts revenue and profit, benefiting shareholders as stock prices rise commensurately.