Trade highlights: inflation gauge, summer travel costs - GMT

Trade highlights: inflation gauge, summer travel costs – GMT

Washington (AFP) – The measure of inflation that the Federal Reserve closely tracks rose 6.3% in April from the previous year, just below the four-decade high recorded in March and the first slowdown since November 2020. The report added to other recent indicators which show that while high inflation continues to cause hardship for millions of families, it may eventually be mild, at least for the time being. The report also showed that consumer spending rose 0.9% in the March-April period, outpacing the month-to-month inflation rate for the fourth time in a row. The constant willingness of the country’s consumers to continue spending freely despite price inflation helps sustain the economy.

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Get ready for sticker shock if you’re traveling this summer

Dallas (AP) — If you haven’t booked your summer vacation plans, it’s already too late to get the best deals, according to travel experts. Air ticket prices are up, hotel prices are up, airlines are preparing for a great summer. High prices are not the only thing travelers have to worry about. The airlines had thousands of fewer employees than they did before the pandemic, meaning they may struggle to handle the expected crowds. Consumers seem to take it all right. Airlines say bookings are running at record levels, and spending on US flights is above 2019 levels.

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Wall Street broke a seven-week losing streak, the longest since 2001

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