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These three dividend stocks can help you offset the cost of inflation.
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 ( RIO 0.79% ), Kinder Morgan ( KMI -1.14% ), and Autoliv ( ALV 0.91% ) gives an investor an average dividend yield of 5.8% and exposure to different sectors of the economy. After a period of three years, an investor could expect a $30,000 investment to earn $5,000 in passive dividend income.
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