7.5% Inflation: 2 Safe Dividend Stocks to Buy Now
On Thursday, the U.S. Bureau of Labor Statistics reported that the Consumer Price Index rose 7.5% over the last 12 months, putting inflation at a 40-year high. To combat inflation, the Federal Reserve could begin raising interest rates in March -- with a total of three or four rate hikes expected this year.
Higher cost of goods, more expensive cost of capital, and supply chain constraints are weighing on businesses' bottom lines. However, certain companies have shown they have the pricing power to pass along some of these costs to their customers.
Here's why Chevron (NYSE: CVX) and Kinder Morgan (NYSE: KMI) are two safe dividend stocks worth buying now.
Source Fool.com
