It seems like higher inflation just won't go away these days. The most recent Consumer Price Index (CPI) report showed prices rising 3.5% year over year. That was higher than expected, showing an acceleration in price growth. inflation remains above the Federal Reserve's target of around 2% annually.

While higher inflation is bad for the economy as a whole, it can benefit certain companies. Brookfield Renewable (NYSE: BEP)(NYSE: BEPC), Brookfield Infrastructure (NYSE: BIPC)(NYSE: BIP), and Marathon Petroleum (NYSE: MPC) stand out to these three Motley Fool contributors for their ability to cash in on higher inflation. It gives these energy stocks the fuel to pay higher dividends, providing their investors with inflation-beating income streams.

Matt DiLallo (Brookfield Renewable): While elevated inflation is challenging for many companies, it's a boon for Brookfield Renewable. The renewable energy producer sells 90% of the power it generates under fixed-rate contracts with an average remaining term of 13 years. Those agreements supply the company with very predictable cash flow.

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Source Fool.com