Business
The annual inflation rate in the United States fell to 4.9% in April, while the core inflation rate, which excludes energy and food prices, also decreased slightly to 5.5%. The core rate has been higher than the overall rate for two months. The Federal Reserve’s interest-rate increases have helped slow consumer-price growth since its peak in June. Markets predict that the Fed will soon pause the run of rate rises, although the labour market remains strong. Employers created 253,000 jobs last month, exceeding estimates.
The Bank of England raised its benchmark interest rate for the twelfth consecutive time, increasing it by a quarter of a percentage point to 4.5%, its highest level since 2008. Annual inflation in Britain has remained stubbornly high at 10.1%, well above inflation in America and the euro area. The bank stated that further rate rises were possible if inflationary pressures persist.
Air France-KLM and International Airline Group, the owner of British Airways, reported higher revenues in their quarterly earnings, providing more evidence of the rebound in international travel. Both companies expect a surge in summer bookings, and IAG raised its outlook for the year. Global airlines are also benefiting from a recent trend of wealthy holidaymakers choosing to fly in first and business class.
2023-05-11 08:35:06
Post from www.economist.com