Costly beer and luxury cars? Consumers and profits fine with that

Consumers seem undaunted by higher prices of everything from luxury cars to beer, letting companies like Anheuser-Busch InBev and BMW boost profits despite economic threats ranging from inflation to war to China’s Covid flare-up.

AB InBev, the world’s largest brewer, on Thursday reported profit growth that was almost twice as much as analysts expected. BMW’s first-quarter earnings rose 12 per cent on strong demand for luxury cars. Revenue at Stellantis, formed by the merger of Fiat Chrysler and Peugeot, jumped on the back of strong demand for new high-end models like the Jeep Grand Cherokee.