I'm also of the opinion that over the longer term inflation is a bigger threat to my retirement than market fluctuations. This is in the context of needing our savings to last 50+ years (DW was 40 when I FIREd) which might as well be forever.
Consequently most of our savings are in real estate and equities which have at least the potential to generate cash flows which grow over time. Whether they will keep up with inflation is another matter but, unlike bonds, at least they have some chance. The small allocation I have to bonds is primarily to provide additional liquidity.
It's also relevant that inflation means my personal rate of inflation - not the CPI numbers. My personal spending budget is more heavily weighted towards expenses which generally go up by more than the CPI number - medical insurance, rates/property taxes, school fees etc. - so I assume an inflation number higher than CPI.
In about 4.5 years the mortgage on our home and one of our investment properties will be paid off. Plan is to borrow to buy another investment property (subject to market conditions and a bank being willing to lend to us) every few years after that to provide additional inflation protection.
I haven't completely discounted the possibility of a deflationary environment, but given the debt/deficit positions of so many governments and the actions of central banks around the world, I consider that to be a much less likely scenario.