"A poll of companies in the services sector found that rising fuel prices contributed to businesses raising prices at the fastest pace in over three years in April. Nearly six in 10 firms surveyed by S&P Global said average costs rose last month, mostly driven by fuel and higher wages."
"IAG, the conglomerate that owns British Airways, Iberia, Aer Lingus and Vueling, stated it would make pricing adjustments to reflect higher fuel costs, although it did not label the move as a surcharge. Virgin Atlantic added a charge of 360 to business class tickets, falling to 50 for economy."
"Tim Moore, S&P Global's economics director, noted that the rise in costs was overwhelmingly linked to greater transportation bills and increased salary payments. A number of firms also reported implementing fuel surcharges for their customers, leading to a spike in prices across the service economy."
"Despite the challenges, firms reported slightly better business than expected last month, with the pollster's gauge of activity rising to 52.7 across the sector, up from an 11-month low of 50.5 in March."
A survey indicates that airlines and other companies are implementing fuel surcharges to manage rising costs, primarily driven by soaring fuel prices and inflation linked to the Iran war. Nearly 60% of firms reported increased costs, with transportation and wages being significant factors. Companies like IAG and Virgin Atlantic have adjusted pricing to reflect these costs. Despite challenges, the services sector showed slight improvement in activity, with a gauge rising to 52.7, indicating better-than-expected business conditions.
Read at www.theguardian.com
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