Catherine Mcqueen | Moment | Getty Images Inflation is gradually falling but remains high, meaning consumers’ budgets continue to be stressed by fast-rising prices. For some, that might mean making tough financial tradeoffs — an exercise that starts by coming to terms with the situation and making an honest assessment of your needs, said Lazetta Rainey Braxton, a certified financial planner and co-CEO of virtual planning firm 2050 Wealth Partners. “The best defense against inflation is being true to knowing your necessities and accepting the fact that [prices have] increased,” said Braxton, a member of CNBC’s Financial Advisor Council. More from Ask an Advisor Here are more FA Council perspectives…