Yeah. It's annoying. I had the same thing happen, except it wasn't *just* the extra inch around my waist -- it was also the fact that styles had shifted toward skinny jeans and longer tops. I had my first child in 2003, and by the time my figure had recovered, most of my tops looked silly because they were a couple of inches too short with the new lower-waisted pants.
One thing two pregnancies has taught me is to relax and embrace change. I used to be terrible for "saving" all my favourite clothes, because I wanted them to last forever. It didn't occur to me that they might go out of style, or that I might get bored with some of them. Having babies removed me from mainstream fashion for a while, and afterward, I became aware that the times had moved on without me. Plus, after five or six years, I realized that not only had my figure and my face changed a bit, but my fashion priorities had too. It was kind of freeing to look at some old items that I loved and think, yeah, it was great while it lasted, but look at all this NEW stuff I could be wearing.