Warren Buffett Recommends This Surprising Strategy to Protect Against Inflation

Inflation is still running hot. The latest numbers, released in early May, show an 8.3% increase in the Consumer Price Index vs. the prior year. More practically, higher grocery and gas bills may be stretching your budget to, or past, its limits.

The investing community is abuzz about the best ways to manage inflation. Common advice involves investing in things that increase in value as prices rise, such as real estate, commodities, and Treasury Inflation-Protected Securities (TIPS). Stocks can offer longer-term protection, too, since they generally appreciate faster than inflation.

But one famous investor has a different perspective. That investor is Warren Buffett, chairman and CEO of Berkshire Hathaway. Buffett, considered one of the world's most successful investors, has a proven track record of building wealth.

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Source Fool.com