If you think inflation poses a long-term threat, you might want to make these portfolio moves now

Inflation is back, and the question for investors is whether it is a blip caused by pent-up demand as the economy opens up. If you believe a sustained period of high inflation has begun, this is the time to reconsider your investment allocation.

Economists cite contradictory evidence when discussing the broad movements of prices for assets, goods and services, so your own opinion might be as good an indicator of the inflation threat as any other.

What…