Yes you can. You can increase it in advance, if you want to!
My personal approach is just to double the current ceiling on any parameter each time I hit it. That way I don’t have to update too often for it to be annoying, but I’m not claiming too much ‘space’ I don’t need to.
Just so you know, this limit (and all similar limits) have been removed in Inform 10.1. The “Use MAX_STATIC_DATA…” line is now ignored and harmless.
If you’re still using 9.3 (6M62), you can download the Inform 10.1 package and set your project to “6M62” in the settings. It will still compile using the 6M62 version of the language, but MAX_STATIC_DATA limits will be removed (because they’re part of the I6 compiler stage).
If you’ve got a command-line setup, you should be able to just replace the I6 binary with a current version (6.36 or later) and get the same benefit.