Khazen

By Kaniya Rogers, Editor at LinkedIn News — Airlines, hotels, and automakers are pulling in record profits by selling less and charging more, reports Bloomberg, challenging U.S. efforts to calm inflation. Hotel prices are up by more than 10% in the first quarter compared to 2022, and “sticker shock” prices have also hit cars and international flights. The surges are the result of increased demand paired with supply chain and staffing issues, including the ongoing pilot shortage. As tourism season approaches, hotel inflation also remains a big Federal Reserve concern, though economists say consumers may not buy into price-hike strategies much longer. New data from the Bureau of Transportation Statistics has found U.S. airlines saw a combined revenue of over $6.7 billion when it comes to just airline baggage fees.