Inflation is peaking, and that is ‘nirvana’ for stocks, Jim Cramer says.

$Bed Bath & Beyond Inc (BBBY.US)$ $AMC Entertainment (AMC.US)$ $SPDR S&P 500 ETF (SPY.US)$ CNBC’s Jim Cramer on Wednesday said that inflation is finally peaking, which is good news for stocks that have been trampled in recent months.

“The stock market … totally saw peak inflation coming,”

And while this doesn’t mean that the economy is out of the woods when it comes to entering a recession, peaking inflation could help lift stocks even during an economic slowdown, according to Cramer.