hovering around 2%. right now, it sits somewhere around 4%. that s certainly better than where it was last year. somewhere above 8.5%. but it is still not good enough. and it s why the fed chair jerome powell has said more interest rate hikes seem pretty likely. in may, the 12 month change in the cpi came in at 4.0% and the change in the core cpi was 5.3%. inflation has moderated somewhat since the middle of last year. nonetheless, inflation pressures continue to run high and the process of getting inflation back down to 2% has a long way to go. the theory is by making it more expensive to borrow money it should cool off the economy. and ten rate hikes later, that tactic seems to be working. of course, the danger is the us economy could fall into a recession. those hawkish comments by mr powell had certainly weighed on investor minds. the nikki index is trading flat as japanese investors look at what happened on wall street overnight aftermarket sales for a third straight on
right now, it sits somewhere around 4%. that s certainly better than where it was last year. somewhere above 8.5% but it is still not good enough. and it s why the fed chair jerome powell has said more interest rate hikes seem pretty likely. in may the 12 month change in the cpi came in at 4.0% and the change in the core cpi was 5.3%. inflation has moderated somewhat since the middle of last year. nonetheless, inflation pressures continue to run high and the process of getting inflation back down to 2% has a long way to go. the theory is by making it more expensive to borrow money it should cool off the economy. and ten rate hikes later, that tactic seems to be working. of course, the danger is the us economy could fall into a recession. those hawkish comments by mr powell had certainly weighed on investor minds. spell, likewise on wall street on wednesday. still staying on the topic of interest rates, it s going to be a busy day for monetary policymakers here in southeast as
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challenges in the industry. delivering plane orders by the airlines and also the decarbonisation of the industry. we re committed to net zero by 2050. to get there, we need to increase the use of sustainable fuels in an economical way. to make this happen, we need to reduce plane fuel burn, so we re preparing for the next planes that will enter into service between 2035 and 2040. that s one of the main priorities at the moment to develop those technologies and to be able to reach 20 to 30% less fuel burn at that horizon. what are these planes going to be like? they ll be burning sustainable aviation fuel. how would they differ from the current generation? more efficient engines, and we want to go onto a new stage of improvement on engine technology. same for the plane itself, the wings still have a lot of potential for more efficiency, reducing the weight that is what we re fighting against with thrust.