As per the Labor Department’s report, November’s consumer price index rose just 0.1% from the previous month and 7.1% from a year ago. Economists surveyed by Dow Jones had expected a…
0.3% monthly increase and a 7.3% 12-month rate.
Moreover, the Producer Price Index (PPI) for final demand rose 7.4% in November year over year, lower than October’s 8.1%.
The Federal Reserve has been raising interest rates since the beginning of the year to tame the multi-decade high inflation. After four straight three-quarter percentage point hikes in a row, the market widely expects a 0.5 percentage point rate increase this month.
However, inflation is still much higher than the Fed’s 2% target. So, the economic uncertainties are expected to linger. Therefore, it could be wise to invest in fundamentally strong stocks BHP Group Limited (BHP), Honda Motor Co., Ltd. (HMC), and Karooooo Ltd. (KARO), which pay steady dividends.
BHP Group Limited (BHP)
Headquartered in Melbourne, Australia, BHP operates globally as a resources company. The company operates through 3 segments: Copper; Iron Ore; and Coal segments. Along with mining, it provides other services such as towing, freight, marketing and trading, marketing support, finance, administrative, and other services.
On December 12, BHP entered a collaboration with…
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