3 Top Stocks to Buy That Will Combat Inflation
With the consumer price index (CPI) rising 8.6% for May, inflation is pressing consumers and businesses alike. You've probably discussed inflation with family, coworkers, and friends, but how do you position a portfolio to take advantage of the current environment?
The key is to purchase shares with a necessary product or that can provide consumers with bargain prices. Three stocks that come to mind are Costco Wholesale (NASDAQ: COST), CrowdStrike (NASDAQ: CRWD), and NextEra Energy (NYSE: NEE). These companies span three industries and provide investors diversification when trying to set their portfolios up for dealing with inflation.
Costco is a warehouse giant that offers bulk discounts to its customers for an annual fee. Consumers dealing with inflation are looking for any type of savings possible, and shopping at Costco helps ease the burden. Additionally, Costco offers gas prices at a discount to regular stations. With gas prices setting new record highs weekly, this is another growth driver for the company.
Source Fool.com
