Prices Are Rising, but These 3 Stocks Do Well in Times of Inflation
There are lots of stories circulating the markets right now. The booming of electric-vehicle stocks like Rivian and volatile crypto markets are two that stick out. However, the most pervasive story affecting all investors is rising inflation.
On Nov. 10, the U.S. Bureau of Labor Statistics reported that the Consumer Price Index is up 6.2% over the last 12 months. Supply-chain issues, higher raw material costs, and seven-year-high oil and gas prices are just a few of the reasons why inflation is at a 30-year high. Rising prices affect nearly every sector of the economy, as companies are pressured to either soak up added costs or pass those costs along to their customers through price hikes.
Franco-Nevada (NYSE: FNV), Freeport-McMoran (NYSE: FCX), and Chevron (NYSE: CVX) are three companies built to combat inflation. Here's what makes each of these dividend stocks a great buy now.
Source Fool.com
