With summer approaching, travel stocks could be worth paying attention to in the stock market. After a couple of years of staying in, people are likely feeling the pent-up urge to finally travel again. Despite the soaring airfares, Americans seem to be shrugging it off, with demand outstripping the supply of seats.
Specifically, flight tickets rose by 18.6% in April from the previous month, according to the U.S. Bureau of Labor Statistics. In fact, airfares were one of the largest contributors to the 8.3% rise in last month’s CPI.
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