Before making any adjustments, it's worthwhile to take inventory of what you own in your investment portfolio. Oil and other energy stocks, mining enterprises, real estate companies and other traditional inflation stalwarts already are included in most broadly diversified mutual funds and exchange traded funds, though perhaps not in the weightings that you would like.
Energy stocks, for example, make up less than 3% of the broad Standard & Poor's 500 index. So too for materials companies and those engaged in real estate. Contrast that with, say, nearly 28% of the index's assets held in information technology stocks, 13% in health care and nearly 12% in consumer-discretionary companies.