economy
Americans are feeling inflation's pinch into the holiday weekend. Here's where prices are rising the most
Prices related to travel, recreation and food saw particularly steep increases, stretching Americans' wallets as they celebrate the unofficial start of summer.
TL;DR
- Total inflation rose 3.8% in April, the highest annual rate since 2023.
- Prices for travel, recreation, and food have seen significant increases.
- Consumer sentiment is at its lowest level on record, partly due to spiking oil prices.
- Ground beef prices are up as much as 16%, frankfurters nearly 11%, and tomatoes close to 40% more.
- Gasoline prices soared over 28% year over year, reaching a four-year high.
- Airline fares surged 20.7%, reaching their highest level since 2022.
- Movie, theater, or concert tickets are up 5.5%, while sporting event tickets dropped 10%.
- Spending on gardening supplies and indoor plants has also increased.