Inflation and interest rates are related but somewhat disjointed measures. Inflation, by its strictest definition, is the change in purchasing power of a currency, usually measured by the real cost of some basket of consumer goods (the Consumer Price Index or CPI). The price of those goods can change for many reasons, only one of which in interest rates. With higher interest rates, people are (relatively) more willing to save than to spend, and since there is less money buying things, demand is lower, and prices go down. With lower interest rates, people are borrowing more (and spending more), increasing demand, and prices go up.
But, prices can be affected by supply increases and decreases as well, or for other reasons not related to interest rates. And those reasons can be cyclical and/or transitory, as many believe that the current increase in inflation is. And also remember that inflation is often "self-correcting". Higher prices lowers demand, which lowers prices (I'm greatly oversimplifying economic theory here and ignoring many nuances to these theories)
So is it reasonable to expect an ROI on investments higher than inflation? Sure - but recognizing that you may have periods of higher-than-expected inflation and periods of lower-than-expected inflation, so it may not be the case where your investments always beat inflation.
If inflation is a large risk for you, you could always look at investments that are inflation-protected, meaning that their value increases or decreases based on some inflation measure (usually CPI). These investments don't have expected returns higher than very low risk investments (like CDs), but if inflation is higher than expected, they will pay out more, and vice-versa.
If you have a long investment horizon (10+ years), then you should be able to take on more risk in the short-term in exchange for larger returns (on average) in the long-term, and you should most definitely expect to beat inflation.