5 Consumer Staples Stocks to Buy as Inflation Remains High

Economic Overview - The Federal Reserve is continuing its efforts to combat high inflation, which remains above the 2% target despite a significant easing over the past year [1] - The personal consumption expenditure (PCE) price index increased by 2.7% year-over-year in March, exceeding the consensus estimate of 2.6% [1] - Core PCE, excluding food and energy, rose by 2.8% in March, higher than the expected 2.7% [1] - The U.S. economy grew at a modest pace of 1.6% in the first quarter, significantly lower than the 3.4% growth in the previous quarter and below the consensus estimate of 2.2% [2] Investment Opportunities - Defensive stocks such as consumer staples are recommended for investment due to their favorable Zacks Rank and potential to strengthen portfolios [3] - Colgate-Palmolive Company (CL) has an expected earnings growth rate of 8.4% for the current year, with a Zacks Rank of 2 [4] - Grocery Outlet Holding Corp. (GO) is projected to have a 10.3% earnings growth rate for the current year, also holding a Zacks Rank of 2 [4] - Pilgrim's Pride Corporation (PPC) shows a remarkable expected earnings growth rate of 78.1% for the current year, with a Zacks Rank of 2 [5] - Lifeway Foods, Inc. (LWAY) has an expected earnings growth rate of 33.1% for the current year, currently holding a Zacks Rank of 1 [6] - The Vita Coco Company, Inc. (COCO) is expected to achieve a 24.3% earnings growth rate for the current year, with a Zacks Rank of 2 [6]