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Consumer goods stocks are set to keep running, and it's not too late to buy, Jim Cramer says

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Food and consumer goods stocks are poised to keep running, Jim Cramer said Friday, at least if no external news drags down the entire market.

The resilience of snack and packaged goods stocks will hold particularly true as debt ceiling talks flounder, he added.

In that context, a few snack stocks have proven "remarkably inelastic," Cramer said, and in his mind, these are ones to buy as people take comfort in well-known brands, like Oreos, Colgate and Campbell Soup, amid uncertain times. "People aren't abandoning these brands despite gigantic price hikes put through because of Covid-generated shortages of all sorts of businesses," Cramer said. "It's defied many of the analysts who thought consumers would balk. They haven't, which is fabulous for the stocks because the analysts got it wrong."

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