Amid sky-high inflation and consecutive rate hikes, benchmark indices have lost substantially, and the overall markets bear a grim outlook. The S&P 500 has lost 19.5% year-to-date, while the Dow Jones Industrial Average has lost 10.4% year-to-date.
However, consumer staples stocks with relatively inelastic demand continue to witness stable growth despite the broader market sell-off. Investors' interest in consumer staples stocks is evident from the Consumer Staples Select Sector SPDR ETF's (XLP) 8.7% returns over the past month.
