The annual rate of inflation dropped to its lowest level in more than two years in June. The consumer price index (CPI) rose by 3% year over year in June, per the Bureau of Labor Statistics.
The yearly rate of inflation not only decelerated from 4% in the prior month but was also the lowest since March 2021. It’s also a touch less than analysts’ estimate of an increase of 3.1%.
Thus, from an investment perspective, we have highlighted five stocks from the aforesaid areas that are most likely to make the most of less inflationary pressure. These stocks carry a Zacks Rank #1 (Strong Buy) or 2 (Buy).
This post originally appeared on 24/7 Wall Street.