3 Inflation-Resistant Stocks to Buy Right Now
It may feel comforting to park your savings in a bank account or sock it away in a tin under your bed, but the reality is that your money will slowly lose its value due to inflation. Inflation has been in the news recently as it hit a four-decade high of 8.3% in April. The Federal Reserve hiked interest rates by half a percentage point, its sharpest single increase in 22 years, to combat this scourge.
However, there is a way to beat inflation, and that's to park your money in stocks that can successfully raise their prices over time to either match or exceed the long-term inflation rate. Such businesses normally have strong brands and competitive moats, are household names, and are well-loved by consumers, allowing them to raise prices without losing a chunk of their customers.
Here are three inflation-resistant stocks that you can consider adding to your investment portfolio.
Source Fool.com
