The International Air Transport Association’s (IATA) October 2022 global air cargo data suggest “headwinds” such as high fuel costs, the strength of the US dollar and rising inflation are hitting demand, which was down 13.6% on October last year. “As many costs are denominated in dollars, the currency’s appreciation adds another layer of cost on top of high inflation and high jet fuel prices,” said the IATA. The fall-off came despite global goods trade expanding by over 5%m in September, with shipping companies handling much of the growth as costs in that sector dropped compared to the surges seen during

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