There are some ways to offset the higher costs of inflation

WASHINGTON » The pandemic has delivered another unwelcome threat to our lives — inflation.

Consumer prices are rising, and if you’re living paycheck to paycheck, this means you have a harder time paying for food, gas and other items.

Inflation hit a 13-year high in September, with consumer prices up 5.4% compared with a year ago, according to the Bureau of Labor Statistics.

“Inflation has been a surprising and unwelcome guest, seeming to persist at an elevated level at a time when we’re all hoping to put the devastating economic impacts of the pandemic behind,” said Mark Hamrick, senior economic analyst for Bankrate. “Like the pandemiccaused downturn itself, it exacerbates wealth and income inequality. The wealthy can adjust. Those on lower incomes, not so much. It is as if some people just can’t catch a muchneeded break.”

Like Blue Origin’s rocket blasting into space, prices are way up compared with what we were used to pre-pandemic. But this isn’t a fun ride. Here’s how to handle a rise in consumer prices.

What changes should I make to my budget to beat inflation?

This is a time when you should review how you spend your paycheck. Even if you’ve cut until it hurts, look for additional trims.

• Obvious places to cut are eating out or streaming services. When was the last time you looked at your mobile plan?

• Use apps and the Internet to find lower prices where they are available, including for gasoline.

“When prices aren’t changing all that much, people may be inclined to invest less of their time shopping, thinking that it might not make all that much of a difference,” Hamrick said. “Think of shopping right now as investing time to find better deals.”

Supply-chain disruptions may continue to push consumer prices up, so you might want to get an early start on your holiday shopping, Hamrick said.

Hamrick makes this great point: Is this a year when something more personal, such as baked goods or a customized photo album, could be substituted at a lower price?

• Put off unnecessary purchases until supply issues are resolved and prices go down.

“Whether it’s an updated iPhone or another piece of clothing to mostly hang in the closet, most Americans simply consume more than they need to,” Hamrick said.

Is there anything I can do to reduce my food costs?

In an inflationary environment, substitutions can be your financial friend.

Food and shelter costs rose in September — and, put together, accounted for more than half of the monthly increase of all items measured in the consumer price index when seasonally adjusted, according to the Bureau of Labor Statistics. Prices for meats, poultry, fish and eggs rose 2.2% over the month, and beef prices rose 4.8%.

Food prices have largely been rising because of weather-related shortages, transportation issues and lack of staffing. Meat and fish prices are going up faster than vegetable prices, so take that into consideration in your at-home meal planning.

Hamrick said he went shopping recently to make crab cakes for his son, visiting from Los Angeles. A 50% price hike for crabmeat changed the menu.

“I bought chicken thighs and cooked them at a fraction of the price,” Hamrick said. “Now’s the time to try to spend time when possible preparing meals at home, using lower-cost items as much as possible.”

Should I change how I invest for retirement?

Inflation doesn’t really change what you should have been doing all along, which is diversifying, said Carolyn McClanahan, a certified financial planner who founded the fee-only Life