And Medtronic (MDT -0.40%), a medical device company, appears to be a good option in this regard. Pricing power mattersWhen prices rise due to inflation, businesses must contend with increased expenses, narrower margins, and lower profits. Companies with substantial pricing power can do so in normal times and in an inflationary environment. As a leading medical device specialist, Medtronic has a comprehensive portfolio of products spanning multiple therapeutic areas. True, there are alternatives for many of the company's devices, which limits its pricing power.