Inflation just surged to a 40-year high…
The Bureau of Labor Statistics’ Consumer Price Index (CPI) grew more than projected in June. The CPI, which monitors the prices of goods and services, jumped by 9.1% year over year.
This figure was greater than the consensus rise of 8.8%. It’s also the highest level of inflation in 40 years…
A sharp increase in energy and travel costs were the primary factors behind the move. In June, energy costs rocketed by 41.6%.
Meanwhile, airfares soared by 34.1% last month.
This has amplified Wall Street’s concerns that inflation may not be easing. Institutional investors had previously believed inflation had already peaked.
But with the figure hitting a 40-year high, investors are once again selling their equities, weighing on the tech-heavy S&P 500 by 20.7% year to date.
Meanwhile, the Dow Jones, Russell 2000, and Nasdaq have all tumbled by 15.9%, 24.1%, and 32.9 over the same period.
As a result, many people are continuing to pile into value plays, safe-haven assets, and cyclical stocks – benefiting firms such as General Mills (GIS)
General Mills is an American consumer-goods manufacturer and distributor. The company has operations in North America, Europe, Asia, and South America.
Its customers range from grocery stores, restaurants, and convenience stores. And it also benefits from direct-to-consumer sales, making it one of the largest food companies in the U.S.
These factors, its strong brand portfolio, and pricing power enable it to benefit from solid demand and sales regardless of economic conditions.
This means that while supply-chain costs are rising in tandem with inflation, its margins should remain steady moving forward.
And its dividend yield of 2.8% should provide retail investors passive income as well as protection against continued market volatility.
The perfect inflation stock?
In 1997, I did something many people would call unthinkable.
I took every penny in my wife's entire retirement account – with her permission, of course – and invested the $20,000 in shares of America Online.
A year later, I cashed out for $120,000.
It blew my mind how quickly I'd made $100,000.
Why am I telling you this?
Because I see a chance for you to do something similar today.
The similarities to AOL, before the stock made me $100,000 over 12 months, are uncanny.
But unlike AOL, this company's technology stands to disrupt many more industries than just the Internet.
More important… I think this stock could soar by 1,000% over the next handful of years.
Some of the biggest names in finance, including Bill Gates, are investing millions into this little-known company.
To see for yourself where this money is headed, click here.
P.S. Right now, this stock is trading for less than $5… but it might not be for long. Click here before this opportunity is gone forever.