As the economy faces high inflation and the Fed’s aggressive interest rate hikes, the possibility of a recession increases. Amid an existing inflationary and recessionary environment, it could be wise to invest in consumer staple stock, Grupo Bimbo, S.A.B. de C.V. (GRBMF), which manages to perform steadily because of the inelastic demand for its products.
GRBMF is a Mexican food processing company specializing in producing and distributing a broad range of products, including bread, bagels, and more. The company operates more than 203 bakeries and 1,6000 sales centers in 33 countries, including Mexico, the United States, Europe, Asia, and Africa.
