As the consumer price index continues to rise on everything from used cars to groceries, inflation has become almost impossible to avoid. But Warren Buffett has some advice, according to a recent CNBC article.

Look for businesses that don’t require continuous reinvestment, Buffett advised at a 2015 Berkshire Hathaway shareholder meeting—and the advice still holds today. “[A]ny business with heavy capital investment tends to be a poor business to be in in inflation,” Buffett said. Those that eat up more and more money, like utilities, aren’t as profitable.

Instead, invest in a brand that people have a connection to, like Buffett’s own See’s Candy, which Berkshire Hathaway has owned since 1972. Buying stock in a “wonderful business” is useful regardless of what the current value of the dollar is, Buffett contends, because that business’s product will always be in demand.

Real estate is also handy to own during times of inflation, says the Oracle of Omaha, sinceit has a one-time outlay for the investor, and can be resold. “If you’ve got something that’s useful to someone else, it tends to be priced in terms of replacement value over time, so you really get the inflationary kick,” Buffett adds.

The article concludes with one of Buffett’s long-standing recommendations to invest in low-cost index funds, which are less risky and more diversified. He previously told CNBC that, for people looking to build their retirement savings, diversified index funds make “the most sense practically all of the time.”

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