2 High-Yield Dividend Stocks That Can Safeguard Your Portfolio Against Inflation

Inflation is a major worry for investors right now, and for good reason. In November, the consumer price index (CPI) skyrocketed by 6.8% year over year. That's the highest increase in the CPI in nearly four decades. Many investors, in turn, are currently on the hunt for vehicles that can safeguard their portfolios from inflationary pressures. 

While some investors are banking on cryptocurrencies or gold as hedges against inflation, dividend stocks shouldn't be overlooked. Stocks that pay out above-average dividend yields have historically performed exceedingly well during periods of high inflation. 

Which high-yield dividend stocks ought to be on investors' radars right now? Pharma titans Bristol Myers Squibb (NYSE: BMY) and Merck (NYSE: MRK) both offer above-average dividend yields relative to their peers. What's more, these two top healthcare stocks are trading at very attractive valuations right now. Here's why investors concerned about inflation might want to scoop up these two elite pharma stocks. 

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Source Fool.com