Energy's key role in often driving inflation makes the Utilities Select Sector SPDR Fund (NYSEMKT: XLU) a powerful option to consider as an investment designed to fight back against inflation. For most practical purposes, that usually means that when their input costs go up, they either can automatically raise their prices to offset or petition the relevant regulators for the ability to do so. That's why my pick would be the stock of a retailer that competes very effectively on that basis and manages to make a healthy profit while doing so: Costco Wholesale (NASDAQ: COST).