Want $5,000 in Passive Income? Invest $30,000 in These 3 Stocks and Wait 3 Years

Last week's Consumer Price Index report by the U.S. Bureau of Labor Statistics indicated that inflation is now 7.5% -- a 40-year high. Companies with pricing power can help pass some of those costs along to their customers. And stocks that pay dividends offer a passive income stream that helps to offset inflation too.

Investing in equal parts of Rio Tinto (NYSE: RIO), Kinder Morgan (NYSE: KMI), and Autoliv (NYSE: ALV) gives an investor an average dividend yield of 5.8% and exposure to different sectors of the economy. Here's what makes each dividend stock a great buy now.

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Source Fool.com