I'm gonna skip the arguments that other people are making about it not being true (inflation actually being low, or Mustachians being more immune to inflation, or whatever).
This one is even easier than that: all you have to do is invest in assets that increase due to that inflation rate.
For example, let's say your electricity, groceries, car replacement, etc. etc. are all going up at faster than reported raites
Well good thing you own an index fund that has shares of that utility company, food production company, car manufacturer, etc. etc.!
Now when they make more money, because they're charging more, YOU see more of the profits, increasing your holdings, increasing the amount you can withdraw to pay for those produced goods. Huzzah!
What number is "reported" is meaningless. So invest in companies making money. If goods and services go up in cost, they'll make more money, and so will you, offsetting any personal cost.
Don't hide your money in CDs/cash/etc., but invest in productive assets and any inflation that does happen, you're protected from. No need to do anything other than standard index investing. Simple, safe, low cost. Win-win-win.
And whether or not it is true, you're good either way, and can sleep at night.