If you've been following the news lately -- or looking at your credit card bills -- then you're probably aware that living costs are sky-high. You can thank inflation for that.

In September, the Consumer Price Index rose 8.2% on an annual basis. While that increase paved the way to an 8.7% cost-of-living adjustment for Social Security recipients, it's also an indication that we're nowhere close to getting relief from inflation.

If you're on the cusp of retirement, you may be wondering whether inflation should impact your plans -- or prompt you to delay your workforce exit. The answer? It depends on your financial circumstances and the toll higher living costs might take on your retirement.

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Source Fool.com