U.S. airlines spent $6.66 billion on jet fuel in May, the second straight month that fuel costs topped $6 billion, according to government data released Tuesday. The May figure was 84% higher than a year earlier. Airlines spent $6.47 billion on fuel in April, the Bureau of Transportation Statistics said. The higher year-over-year spending has … Read more
Inflation across the U.S. accelerated in May as the shock to global energy supplies from the Iran war continued to push prices higher. The Consumer Price Index rose at an annual rate of 4.2% last month, up from 3.8% in April and the highest level in three years. By the numbers Economists polled by financial data firm … Read more
Economists expect a key inflation gauge set to be released on Wednesday to show that U.S. consumer prices in May rose at their fastest pace in more than three years. The Consumer Price Index is forecast to have risen last month at an annual rate of 4.2%, up from 3.8% in April, according to economists … Read more