Lakeland Financial Stock (NASDAQ:LKFN), Trade Ideas

Lakeland Financial

Lakeland Financial Corp is a bank holding company. It provides commercial, retail, wealth advisory, and investment management services. Lakeland offers a broad range of products and services throughout its Northern and Central Indiana markets. The company offers commercial and consumer banking services, as well as trust and wealth management, brokerage, and treasury management commercial services. It serves a wide variety of industries including, among others, commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services, and healthcare.

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Lakeland Financial Corporation - Common Stock

Lakeland Financial Corp

By the close of today, February 05, 2024, Lakeland Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKFN#NASDAQ">LKFN</a>) will issue a dividend payout of $0.48 per share, resulting in an annualized dividend yield of 3.02%. This payout is exclusively for shareholders who held the stock before the ex-dividend date on January 24, 2024.
<h3>Lakeland Financial Recent Dividend Payouts</h3>
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 </style><table>
<thead>
<tr>
<th>Ex-Date</th>
<th style="text-align: right;">Payments per year</th>
<th>Dividend</th>
<th>Yield</th>
<th>Announced</th>
<th>Record</th>
<th>Payable</th>
</tr>
</thead>
<tbody>
<tr>
<td>2024-01-24</td>
<td style="text-align: right;">4</td>
<td>$0.48</td>
<td>3.02%</td>
<td>2024-01-09</td>
<td>2024-01-25</td>
<td>2024-02-05</td>
</tr>
<tr>
<td>2023-10-24</td>
<td style="text-align: right;">4</td>
<td>$0.46</td>
<td>3.85%</td>
<td>2023-10-10</td>
<td>2023-10-25</td>
<td>2023-11-06</td>
</tr>
<tr>
<td>2023-07-24</td>
<td style="text-align: right;">4</td>
<td>$0.46</td>
<td>3.85%</td>
<td>2023-07-11</td>
<td>2023-07-25</td>
<td>2023-08-07</td>
</tr>
<tr>
<td>2023-04-24</td>
<td style="text-align: right;">4</td>
<td>$0.46</td>
<td>3.06%</td>
<td>2023-04-11</td>
<td>2023-04-25</td>
<td>2023-05-05</td>
</tr>
<tr>
<td>2023-01-24</td>
<td style="text-align: right;">4</td>
<td>$0.46</td>
<td>2.56%</td>
<td>2023-01-10</td>
<td>2023-01-25</td>
<td>2023-02-06</td>
</tr>
<tr>
<td>2022-10-24</td>
<td style="text-align: right;">4</td>
<td>$0.4</td>
<td>2.17%</td>
<td>2022-10-11</td>
<td>2022-10-25</td>
<td>2022-11-07</td>
</tr>
<tr>
<td>2022-07-22</td>
<td style="text-align: right;">4</td>
<td>$0.4</td>
<td>2.34%</td>
<td>2022-07-12</td>
<td>2022-07-25</td>
<td>2022-08-05</td>
</tr>
<tr>
<td>2022-04-22</td>
<td style="text-align: right;">4</td>
<td>$0.4</td>
<td>2.18%</td>
<td>2022-04-12</td>
<td>2022-04-25</td>
<td>2022-05-05</td>
</tr>
<tr>
<td>2022-01-24</td>
<td style="text-align: right;">4</td>
<td>$0.4</td>
<td>1.92%</td>
<td>2022-01-11</td>
<td>2022-01-25</td>
<td>2022-02-07</td>
</tr>
<tr>
<td>2021-10-22</td>
<td style="text-align: right;">4</td>
<td>$0.34</td>
<td>1.85%</td>
<td>2021-10-12</td>
<td>2021-10-25</td>
<td>2021-11-05</td>
</tr>
<tr>
<td>2021-07-22</td>
<td style="text-align: right;">4</td>
<td>$0.34</td>
<td>2.23%</td>
<td>2021-07-13</td>
<td>2021-07-25</td>
<td>2021-08-05</td>
</tr>
<tr>
<td>2021-04-22</td>
<td style="text-align: right;">4</td>
<td>$0.34</td>
<td>1.96%</td>
<td>2021-04-13</td>
<td>2021-04-25</td>
<td>2021-05-05</td>
</tr>
</tbody>
</table>
When comparing Lakeland Financial's dividend yield against its industry peers, the company sits comfortably in the middle, with its peer Northwest Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWBI#NASDAQ">NWBI</a>) having the highest annualized dividend yield at 6.65%.
<h3>Analyzing Lakeland Financial Financial Health</h3>
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing. 
<h3>YoY Growth in Dividend Per Share</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1707145521_0.png" alt="dividend chart graph" />
The company demonstrated a positive dividend growth pattern from 2020 to 2023, with the dividend per share rising from $1.20 to $1.84. This signifies the company's commitment to consistently increasing shareholder dividends.
<h3>YoY Earnings Growth For Lakeland Financial</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1707145521_1.png" alt="earning chart graph" />
Investors can observe a growth in earnings for Lakeland Financial from 2020 to 2023, as earnings per share increased from $3.19 to $3.50. This upward trajectory in earnings indicates potential for future cash dividend payout increases, which can be advantageous for income-seeking investors.
<h3>Recap</h3>
In this article, we explore the recent dividend payout of Lakeland Financial and its significance for shareholders. The company has decided to distribute a dividend of $0.48 per share today, which equates to an annualized dividend yield of 3.02%.
When comparing Lakeland Financial's dividend yield against its industry peers, the company sits comfortably in the middle, with its peer Northwest Bancshares having the highest annualized dividend yield at 6.65%.
With an increase in dividend per share and earnings per share from 2020 to 2023, Lakeland Financial demonstrates a healthy financial status and is likely to maintain their dividend distribution to investors.
Investors should closely follow the company's performance in the coming quarters to stay up-to-date on any shifts in financials or dividend disbursements.
[Monitor live stock price updates for Lakeland Financial on Benzinga.](https://www.benzinga.com/quote/Lakeland Financial (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lkfn#NASDAQ">LKFN</a>))
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Dividends

NWBI

Surpassing Expectations: Lakeland Financial Unleashes Growth Potential and Rewards Investors

Stephens &amp; Co. analyst Terry McEvoy maintains Lakeland Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKFN#NASDAQ">LKFN</a>) with a Equal-Weight and raises the price target from $67 to $70.

Price Target

Analyst Ratings

Stephens & Co. Maintains Equal-Weight on Lakeland Financial, Raises Price Target to $70

Raymond James analyst David Long maintains Lakeland Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKFN#NASDAQ">LKFN</a>) with a Outperform and raises the price target from $60 to $78.

Raymond James Maintains Outperform on Lakeland Financial, Raises Price Target to $78

WIIM

Lakeland Financial shares are trading higher after the company reported better-than-expected Q4 financial results.

Lakeland Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKFN#NASDAQ">LKFN</a>) reported quarterly earnings of $0.98 per share which beat the analyst consensus estimate of $0.89 by 10.11 percent. The company reported quarterly sales of $65.81 million which beat the analyst consensus estimate of $59.98 million by 9.71 percent. This is a 2.30 percent decrease over sales of $67.36 million the same period last year.

Earnings

Earnings Beats

Lakeland Financial Q4 2023 Adj EPS $0.98 Beats $0.89 Estimate, Sales $65.81M Beat $59.98M Estimate

Lakeland Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKFN#NASDAQ">LKFN</a>) reported quarterly earnings of $0.98 per share which beat the analyst consensus estimate of $0.89 by 10.11 percent. This is a 2.97 percent decrease over earnings of $1.01 per share from the same period last year.

Lakeland Financial Q4 EPS $0.98 Beats $0.89 Estimate

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&bull; Third Coast Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBX#NASDAQ">TCBX</a>) is projected to report quarterly earnings at $0.48 per share on revenue of $38.13 million.
&bull; First Western Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYFW#NASDAQ">MYFW</a>) is estimated to report quarterly earnings at $0.32 per share on revenue of $23.83 million.
&bull; Byline Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BY#NYSE">BY</a>) is expected to report quarterly earnings at $0.67 per share on revenue of $101.40 million.
&bull; T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) is projected to report quarterly earnings at $1.90 per share on revenue of $19.64 billion.
&bull; KLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) is projected to report quarterly earnings at $5.91 per share on revenue of $2.46 billion.
&bull; SouthState (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NYSE">SSB</a>) is likely to report quarterly earnings at $1.54 per share on revenue of $417.72 million.
&bull; Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) is expected to report quarterly earnings at $0.45 per share on revenue of $15.16 billion.
&bull; Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) is estimated to report quarterly earnings at $0.23 per share on revenue of $48.12 million.
&bull; Weyerhaeuser (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WY#NYSE">WY</a>) is estimated to report quarterly earnings at $0.17 per share on revenue of $1.86 billion.
&bull; First Financial Bancor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFBC#NASDAQ">FFBC</a>) is expected to report quarterly earnings at $0.61 per share on revenue of $207.32 million.
&bull; Arthur J. Gallagher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>) is likely to report quarterly earnings at $1.85 per share on revenue of $2.36 billion.
&bull; Capital One Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) is likely to report quarterly earnings at $2.64 per share on revenue of $9.46 billion.
&bull; Financial Institutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FISI#NASDAQ">FISI</a>) is likely to report quarterly earnings at $0.71 per share on revenue of $40.32 million.
&bull; Ameris (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABCB#NASDAQ">ABCB</a>) is projected to report quarterly earnings at $1.10 per share on revenue of $264.66 million.
&bull; Hilltop Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HTH#NYSE">HTH</a>) is likely to report quarterly earnings at $0.40 per share on revenue of $113.80 million.
&bull; MidWestOne Financial Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOFG#NASDAQ">MOFG</a>) is likely to report quarterly earnings at $0.49 per share on revenue of $34.02 million.
&bull; Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBBK#NASDAQ">TBBK</a>) is projected to report quarterly earnings at $0.95 per share on revenue of $90.65 million.
&bull; Customers Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBI#NYSE">CUBI</a>) is likely to report quarterly earnings at $1.72 per share on revenue of $173.26 million.
&bull; WSFS Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSFS#NASDAQ">WSFS</a>) is expected to report quarterly earnings at $1.05 per share on revenue of $177.61 million.
&bull; Olin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OLN#NYSE">OLN</a>) is likely to report quarterly earnings at $0.19 per share on revenue of $1.52 billion.
&bull; Primis Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRST#NASDAQ">FRST</a>) is expected to report quarterly earnings at $0.28 per share on revenue of $27.05 million.
&bull; Provident Finl Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFS#NYSE">PFS</a>) is projected to report quarterly earnings at $0.41 per share on revenue of $94.12 million.
&bull; Seacoast Banking (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBCF#NASDAQ">SBCF</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $135.57 million.
&bull; GSI Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSIT#NASDAQ">GSIT</a>) is expected to report earnings for its third quarter.
&bull; Associated Banc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASB#NYSE">ASB</a>) is projected to report quarterly earnings at $0.52 per share on revenue of $275.24 million.
&bull; Midland States Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSBI#NASDAQ">MSBI</a>) is expected to report quarterly earnings at $0.79 per share on revenue of $75.49 million.
&bull; SB Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFG#NASDAQ">SBFG</a>) is expected to report quarterly earnings at $0.35 per share on revenue of $9.40 million.
&bull; Eastern Bankshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBC#NASDAQ">EBC</a>) is likely to report quarterly earnings at $0.20 per share on revenue of $129.71 million.
&bull; BayFirst Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BAFN#NASDAQ">BAFN</a>) is likely to report earnings for its fourth quarter.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For January 25, 2024

Lakeland Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKFN#NASDAQ">LKFN</a>) is set to give its latest quarterly earnings report on Thursday, 2024-01-25. Here's what investors need to know before the announcement.
Analysts estimate that Lakeland Financial will report an earnings per share (EPS) of $0.89. 
Lakeland Financial bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company beat EPS by $0.08, which was followed by a 1.7% increase in the share price the next day.
Here's a look at Lakeland Financial's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.90</td>
<td>0.91</td>
<td>1.09</td>
<td>1.13</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.98</td>
<td>0.57</td>
<td>0.94</td>
<td>1.01</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.7%</td>
<td>-0.85%</td>
<td>-6.3%</td>
<td>-0.38%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1706119244_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Lakeland Financial were trading at $64.17 as of January 23. Over the last 52-week period, shares are down 7.15%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/LKFN/earnings">To track all earnings releases for Lakeland Financial visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Lakeland Financial's Earnings Outlook

Tuesday marks the last chance for investors to receive the next dividend payout from Lakeland Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKFN#NASDAQ">LKFN</a>). 
<h3>What's Happening</h3>
The company announced on Tuesday that it would pay shareholders a quarterly dividend of 48 cents per share. On Wednesday, Lakeland Financial will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 48 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Wednesday. Shareholders who own LKFN as of the end of Tuesday's session are eligible to receive the 48 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on February 05, 2024. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/LKFN">See current stock movements Lakeland Financial on Benzinga.</a>

Lakeland Financial: Dividend Insights

Lakeland Financial Increases Quarterly Dividend From $0.46 To $0.48

U.S. regional bank stocks have seen a significant uptrend over the recent weeks, reaching levels reminiscent of those during the onset of the Silicon Valley <a href="https://www.benzinga.com/topic/regional-banks">Bank crisis in March</a>.
The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), a pivotal gauge tracking more than a hundred industry players, has surged 35% in the past two months, marking its strongest two-month rally since January 2021. 
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20161531/newplot-6-1.png" alt="" class="wp-image-165951" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20161531/newplot-6-1.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2023/12/20161531/newplot-6-1-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
The rally of regional banks has been bolstered by the gradual improvements in financial conditions in the United States, largely attributed to the Federal Reserve&#8217;s recent shift towards a more <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36227799/feds-unexpected-dovish-signals-spark-market-euphoria-economists-weigh-in">accommodating monetary policy stance.</a>
Previously, elevated interest rates had placed regional banks in a precarious position. Declining loan demand and rising funding costs had exerted significant pressure on these banks&#8217; net interest margins (NIM).
However, the anticipated decrease in interest rates for 2024 has played a pivotal role in alleviating the strain on regional banks, propelling them to become one of the industries with the most robust performances in the recent market phase.
<h2 class="wp-block-heading">Key Contributors To Regional Bank Rally</h2>
Upon analyzing the KRE ETF constituents, ten regional banks have reported returns exceeding 40% in the last three months:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<th>Name</th>
<th>Price Chg. % (3M)</th>
<th>Price Chg. % (1M)</th>
</tr>
<tr>
<td>Customers Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBI#NYSE">CUBI</a>)</td>
<td>77.42%</td>
<td>25.50%</td>
</tr>
<tr>
<td>Metropolitan Bank Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NYSE">MCB</a>)</td>
<td>58.17%</td>
<td>43.82%</td>
</tr>
<tr>
<td>Glacier Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBCI#NYSE">GBCI</a>)</td>
<td>56.21%</td>
<td>27.52%</td>
</tr>
<tr>
<td>Lakeland Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LKFN#NYSE">LKFN</a>)</td>
<td>47.86%</td>
<td>17.09%</td>
</tr>
<tr>
<td>Live Oak Bancshares, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOB#NYSE">LOB</a>)</td>
<td>46.86%</td>
<td>31.71%</td>
</tr>
<tr>
<td>Bank of Hawaii Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOH#NYSE">BOH</a>)</td>
<td>46.20%</td>
<td>28.66%</td>
</tr>
<tr>
<td>FB Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBK#NYSE">FBK</a>)</td>
<td>44.83%</td>
<td>20.13%</td>
</tr>
<tr>
<td>Cadence Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CADE#NYSE">CADE</a>)</td>
<td>44.30%</td>
<td>20.42%</td>
</tr>
<tr>
<td>Independent Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NYSE">IBCP</a>)</td>
<td>43.95%</td>
<td>18.13%</td>
</tr>
<tr>
<td>Premier Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFC#NYSE">PFC</a>)</td>
<td>42.28%</td>
<td>17.05%</td>
</tr>
</tbody>
</table>
</figure>
<h2 class="wp-block-heading">2024 Economic Outlook </h2>
Regional banks tend to flourish in an environment of solid economic growth, moderate inflation, and decreasing interest rates. 
Conversely, stagflation — characterized by stagnant economic growth paired with rising inflation — can be detrimental to the sector due to lower loan growth and potentially higher deposit interest rates.
A recession coupled with low-interest rates could create a complex scenario for the industry, possibly favoring only the larger, more robust banks. While a slow economy reduces loan demand, banks may benefit from decreased costs.
The latest projections from the Fed suggest a moderate US economic growth of 1.4% in 2024, slightly below the trend and well under the 2.6% growth seen in 2023.
Inflation is expected to decrease to 2.4% by the end of 2024, still marginally above the Fed&#8217;s 2% target. Additionally, the federal funds rate is projected to be cut by 75 basis points to 4.6%, with market expectations leaning towards even steeper rate reductions.
Read now: <a href="https://www.benzinga.com/news/large-cap/23/12/36330887/5-etfs-to-keep-an-eye-on-as-market-anticipates-feds-preferred-inflation-gauge-this-friday">5 ETFs To Keep An Eye On As Market Anticipates Fed&#8217;s Preferred Inflation Gauge This Friday</a>
Image: Shutterstock

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Shares of broader financial stocks are trading higher amid overall market strength after October CPI data showed softer-than-expected inflation.