With prices this high, I'll just go without a new suit this year.
Literal
Prices [subject-が] this-much high-[if-と], this-year [topic-は] new suit without make-do [volitional-ことにしよう].
物価がこんなに高いと sets up a conditional: 'given that prices are this high.' ~なしですます means 'to manage without.' ことにしよう means 'I'll decide to' — a resolution. Practical, relatable content.