Inflation worries are hitting every income bracket - watch these stocks
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Jefferies conducted a consumer survey on inflation that led to some interesting pullouts.
While the firm divided respondents in the survey by income cohort with 36% of respondents less than $50K (low income), 32% $50K-$100K (middle), 23% $100K+ (high) - there was actually little bearing by income on weaker financial confidence, perceived purchasing power, and future inflation expectations. 
Overall, 54% of consumers surveyed said they are less confident about their finances vs. 17% more. Only 37% believed their wages will be able to outpace rising prices. There was also high awareness of gasoline, grocery, and rent inflation across income cohorts. Price hike callouts from respondents were higher than expected for restaurants, travel, home renovation, and healthcare.
Of note, 60% of consumers surveyed are seeking lower priced alternatives where price is perceived "too high."
Looking ahead, the setup could be positive for retailers with private labels at lower price points like Target (TGT), Walmart (WMT), and Amazon (AMZN) - while inflation concerns could be a 2022 headwind for companies like Lululemon (LULU), Macy's (M) and Nordstrom (JWN). 
Upcoming earnings calls from home improvement retailers Home Depot (HD) and Lowe's (LOW) are expected to be watched closely for signs of demand cracking.
Dollar General (NYSE:DG) and Dollar Tree (NASDAQ:DLTR) are called traditional trading-down beneficiaries. However, there is mixed analysis on how Costco (NASDAQ:COST) will fare if inflation concerns remain high.
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