High inflation is a major bugbear for the global economy as countries grapple with the rising cost of goods and services.
Consumer demand and spending will be hit as more people tighten their belts.
Companies will also incur higher expenses as the selling, marketing and administrative costs rise.
In such an environment, it makes sense for you to look for stocks that have strong pricing power.
These businesses can raise the prices of their goods and services without suffering a corresponding fall in sales volume.
To do so, the company needs to have a strong brand and a dominant market position within its industry.
Here are four US stocks with the above characteristics that can do wonders for your investment portfolio.
Tractor Supply Company (NASDAQ: TSCO)
Tractor Supply Company is the largest rural lifestyle retailer in the US.
The company sells an extensive range of products such as lawnmowers, tools and pet supplies and operates 2,016 Tractor Supply stores in 49 states....