7 Stocks to Invest in Amid 2024 Inflation Surge

Inflation is a complex economic phenomenon that can significantly affect the stock market. However, not all stocks are negatively impacted by rising inflation. Some companies, particularly those offering essential products and services, can thrive during periods of high inflation. Here's a list of such stocks to consider if inflation continues.

PepsiCo (NASDAQ:PEP) has been underperforming recently due to concerns about declining volumes and competition from weight-loss drugs. However, despite missing revenue targets in its last two quarters, earnings remain higher than estimates for both the quarter and year-over-year basis. Pepsi’s pricing power makes it an attractive investment option during times of high inflation.

Coca-Cola (NYSE:KO) and Kenvue (NYSE:KVUE), Johnson & Johnson's consumer products spin-off, also offer strong prospects in an inflated economy. Despite lagging behind Pepsi in terms of performance over the past five years, Coca-Cola remains a reliable dividend king with no signs of ending its streak anytime soon.

Kenvue inherited popular brands like Tylenoyl Listerine Band-Aid from J&J but carries none of the talc-related liabilities associated with baby powder lawsuits against J&J – making it a compelling choice for investors looking for safe-haven stocks amid rising inflation.

Kimberly-Clark Corporation (NYSE:KMB), known for its streak as another dividend king with 53 consecutive years count and an appealing yield rate - 3.56%, should also be on your radar if you're expecting continued inflation.

Utilities companies like CMS Energy (NYSE:CMS) or Consumers Energy provide regulated electric gas services primarily in Michigan while also having renewable energy business ties with Walmart to power their locations across Michigan - making them good contenders as well amidst inflating economies.

Altria Group Inc., one of the world's leading cigarette manufacturers moving towards smokeless products like vapes offers significant market share growth potential along with a tempting dividend yield of 9%.

Albertson's (NYSE:ACI), with its innovative loyalty program and advanced digital marketing strategies including online ordering options for home delivery and curbside pickup, ensures consistent top-line growth. Although the company is not a dividend king, it offers a respectable dividend yield of 2.41%, making it an attractive option in times of inflation.

Lastly, Genuine Parts Company (NYSE:GPC) can benefit from the high inflation environment as more consumers might choose to repair their existing vehicles instead of buying new ones due to increased prices. With auto parts being one area where inflation is stickiest, GPC stands to gain. Furthermore, having recently marked 69 consecutive years of increasing dividends with a payout ratio that supports future growth makes this stock worth considering if you expect continued inflation.

In conclusion, while rising inflation may pose challenges for some stocks, others are well-positioned to weather such economic conditions thanks to their product offerings and financial health. As always though before investing do your own research or consult with a financial advisor.