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John Carney11 May 2022

Now get ready for Bidenflation Summer.

Inflation is going to make paying for a family getaway this summer much harder for many Americans. Prices rose at the second fastest pace in 40 years in April, defying predictions that inflation had peaked in March and would quickly decline. Core consumer prices, which excludes the volatile energy and food categories, jumped 0.6 percent, twice as fast as they did a month ago.

Many of the categories of consumer goods and services that get purchased for summer vacations saw very high levels of inflation.

Airfares are up 33 percent from a year ago.
The prices of rooms at hotels and motels are up 22.6 percent.
Driving instead of flying? Gasoline prices are up 43.6 percent.
Stopping by a fast food place on the road trip? Prices are up seven percent.
The category that includes men’s swimwear saw prices go up 6.8 percent.
Women’s swimwear prices are up 4.1 percent.
Riding bikes? Prices there are up eight percent.
Car rental prices are up 10.3 percent.

Families that decide to stay home had better watch out when running the air conditioning. Prices for electricity are up 11 percent.

Economy#Bidenflationinflationsummer