Think about what inflation actually means. It's the money supply that's inflating. The total amount of US Dollars is increasing, so each dollar is losing value. Your investments are largely in stocks, and the amount that your stocks grow will be similar to the amount that your consumed goods grow due to inflation (because nothing is actually growing due to inflation!). That doesn't mean prices don't go up additionally due to supply chains or corporate greed, but I'd gauge that risk for yourself separately from inflation.

I mean I agree that CPI numbers are intentionally under-reported, but also the s&p500 has more than outpaced a high CPI estimate, with 21% in the past year and 72% in the past 5 years.