Spending on hotels and travel cooling down
Spending on hotels, airline tickets and recreation surged after the pandemic. This summer could mark a shift back to normal
After two years of spending heavily on vacations and other experiences that they were deprived of during pandemic lockdowns, Americans may be on the brink of pulling back - a cool-down that could help slow inflation.
Key takeaways
- Hotel prices have recently climbed much more slowly on a year-over-year basis, and airfares fell in May;
- Analysts expect airfares and hotel costs to weigh on inflation in June and July, experiencing not the same sort of surge this summer that they experienced last year;
- Consumers are not only getting back to more normal living patterns, they may also be increasingly cautious as they face high costs after several years of rapid inflation.
Get the full story at The New York Times