[WJW]

Even if inflation spikes to 10% per year, if you have an emergency fund covering (say) three months of expenses right now you'd still have a fund for 2.7 months in a year. And, of course, there aren't any rules saying you can't top it up to keep it sufficient for whatever time period you set it up for.

It's infinitely better to have a buffer and not need it than to not keep any buffer at all and suddenly find yourself with an income and bills to pay.