Thank you for the additional tip.
I think I need to clarify that, what I wanted to do is to offset the z value of a particular bone (hip bone), the root bone location should remain unchanged.
In this particular case, I don't have the option to simply adjust the object's offset as that will alter the root bone location.
(I know I can adjust hip bone without affecting root bone with biped rig settings, sadly, the file I'm dealing with is a plain .fbx animation file without associated biped rig)
Frankly, I'm not sure adjusting keyframes via curve editor is the best (simplest) solution to solve this issue - if there are any other simpler ways to deal with my problem, I'm eager to give it a try.