Stocks to buy as inflation price climbs to 18% for nation’s least well-off

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Stocks to buy as inflation price climbs to 18% for nation’s least well-off

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 Stocks to buy as inflation price climbs to 18% for nation’s least well-off
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Highlights

  • The ongoing cost of living crisis may spiral even further with inflation potentially reaching 18% for the UK’s poorest people.
  • Inflation levels have hit double digits for the first time since 1982.
  • Economists are now expecting that the Bank of England will raise the rates again in its September meeting by 0.5%.

UK households have been struggling with paying their food and fuel bills lately, and the latest figures have revealed that the ongoing cost of living crisis may spiral even further with inflation potentially reaching 18% for the UK’s poorest people. Inflation levels have hit double digits for the first time since 1982 and the situation doesn’t appear to be stabilizing anytime soon.

Official figures revealed on Wednesday showed that there was an increase of 10.1% in shopper costs in July on annual basis. This staggering inflation data has surpassed the predictions of analysts, making Britain one of the worst affected major economies in terms of inflation. Rising inflation has been hurting households across the country, but the economically weaker section of people is bound to suffer more due to rising costs.

                                                       ©2022 Kalkine Media®

It has been confirmed that the least well-off are suffering more, which implies that the prices of essential items, like food products, going up, has been pushing up the inflation levels. A 12.7% increase was observed in the cost of food, with the prices of a few basic items like butter, milk, and pasta increasing more rapidly, in the range of 20% to 30%. Poorer people spend a disproportionately higher portion of their overall income on necessities like food and fuel which are witnessing the highest price hikes.  

Economists are now expecting that the Bank of England will raise the rates again in its September meeting by 0.5% ahead of the rough winter. Energy prices have been rocketing lately, and if inflation is not controlled, hundreds of thousands of Brits may be pushed into fuel poverty this winter. Amid the darkening outlook, Brits can judiciously invest their hard-earned savings in the stock market to beat inflation. Here are 3 stocks suggested by Kalkine Media® that investors can explore.

BAE Systems plc (LON: BA.)

The shares of the arms, security, and aerospace business operating worldwide, BAE Systems plc, dropped by 0.23% at 10:40 AM (GMT+1) on Thursday, while trading at GBX 797.80. The FTSE 100 group has given good returns to its investors on one-year and YTD (year-to-date) basis as of 18 August, at 37.93% and 45.11%, respectively. Presently being offered a dividend yield of 3.3%, BA. investors are witnessing a positive EPS (earnings per share) of 0.56. Its market capitalisation as of now stands at £25,106.94. BA. Its RSI (Relative Strength Index) value of BAE Systems was at 52.19 during intraday trading.

Shell plc (LON: SHEL)

The shares of the internationally leading oil and gas firm, Shell plc, rallied by 0.76% at 10:45 AM (GMT+1) on Thursday, while trading at GBX 2,198.50. The FTSE 100 business has given positive returns to its investors on one-year and YTD basis as of 18 August, at 51.77% and 35.42%, respectively. Presently being offered a dividend yield of 3.7%, SHEL investors are enjoying a huge EPS of 2.59. Its market capitalisation as of now stands at £159,231.80. 

Standard Chartered plc (LON: STAN)

The shares of the internationally operating British banking and financial services firm, Standard Chartered plc, surged by 0.24% at around 11:00 AM (GMT+1) on Thursday, while trading at GBX 394.40. The FTSE 100 business has given positive returns to its investors on one-year and YTD basis as of 18 August, at 31.56% and 32.65%, respectively. Presently being offered a dividend yield of 1.8%, STAN investors are witnessing an EPS of 0.61. Its market capitalisation as of now stands at £17,524.49. 

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