3 Recession-Proof Dow Stocks Investors Bought After Today's Red-Hot Inflation Report
The Dow Jones Industrial Average gave up roughly 208 points today after the latest reading of the Consumer Price Index (CPI) came in hotter than expected. The CPI tracks the prices of a basket of daily consumer goods and services and is one way investors track inflation. The CPI rose 9.1% on a year-over-year basis in June, more than the 8.8% economists had been projecting.
The one sliver of hope of inflation potentially peaking in the report is that the CPI was driven by an 11.2% year-over-year increase in gasoline. Gas prices have started to come down in recent weeks.
The White House said this morning that they believe the report is "out-of-date" and "does not reflect the full impact of nearly 30 days of decreases in gas prices, that have reduced the price at the pump by about 40 cents since mid-June."
Source Fool.com
