Luxury Thrives Even as Consumers Feel Effects of Inflation, Rising Costs

While millions are fretting whether they can afford another $1,000 on energy this year, others are still splashing out on $10,000 Hermes handbags as soaring prices leave wealthier people relatively unscathed.

A string of consumer companies, from spirits group Diageo to Birkin bag maker Hermès, have this week reported they’re making money from their most expensive products and expect to continue to do so, despite a cost of living crisis that…