equity markets took it on the chin following disappointing reports on inflation last week that came in much hotter than expected and dashing expectations that the data would show inflation moderating consumer prices in june rose 91 yearoveryear and producer prices surged into the double digits at 113 just below the 116 rate in march by the close on friday however positive earnings reports from big banks like citigroup helped stocks trade well above their lows for the week the two worst places to be last week were in the energy sector and emerging markets energy fell more than 3 as crude oil tumbled another 69 to close out the week at 9759 per barrel down from more than 120 just one month ago emerging markets are very sensitive to inflation and higher us interest rates and the eem was lower by 36 on the week consumer staples was the only sector not to decline equity income universe as they have throughout 2022 dividendpaying stocks performed better than the overall market most of the funds we track were down less than 1 but international dividend payers were laggards powershares international dividend achievers pid 19 spdr sp global dividend wdiv 2 and vanguard international dividend appreciation vig i 14 the vaneck bdc income bizd 14 reversed course after shining last week as the best performing equityincome fund while the alerian mlp amlp 003 etf fared better than oil basically breaking even for the week fdi portfolio action it was a rough week for basic materials stocks and that was the case for kronos worldwide and ternium but the 23 stocks in last week’s forbes dividend investor portfolio on average kept declines in check falling 053 this keeps the fdi portfolio at 3 for yeartodate total return among the dividend etfs and mutual funds that we track each week delivering the best weekly performance again was qualcomm qcom 62 which built on last week’s 10 gain baby clothes company carter’s cri 46 also remained strong along with packaging and container maker greif gefb 37 click here for instant access to the complete forbes dividend investor portfolio including friday’s most recent buy a company that makes everything from highway paint to postit notes john dobosz is editor of forbes dividend investor which provides a weekly portfolio of highyielding valuepriced income stocks reits and mlps and forbes premium income report which sends out optionsselling trade recommendations on two dividendpaying stocks every tuesday and thursday