Even with beach trips and grilling in the yard... "Inflation Hits Vacation Plans"

No Matter Where or What You Enjoy, You Will Feel Inflation
WSJ: "At Least Swimsuits, Bicycles, and Beer Prices Rose Less"

[Image source=AP Yonhap News]

[Asia Economy Reporter Kim Hyunjung] The Wall Street Journal (WSJ) reported that this summer vacation, no matter which destination Americans choose, it will be difficult to avoid inflation.

WSJ recently estimated the increase in cost burdens for various summer vacations through its own analysis, stating, "Just going somewhere and having a delicious meal will come with an unaffordable cost." In May, the Consumer Price Index (CPI) surged 8.6% compared to the same period last year.

Beach vacations could become an enormous luxury. This year, airfare rose 38% compared to the previous year, and accommodation costs increased by 22%. If you planned to try fresh crab at a coastal pier, the cost rises even more. While overall food prices increased by 10%, seafood prices went up by 13%.

WSJ noted that the price increase for men's and women's swimsuits, at around 5-6%, is relatively lower than the overall clothing increase of 7%, which can be taken as some consolation.

[Image source=EPA Yonhap News]

How about a picnic in a nearby park to avoid expensive airfare or accommodation? In the vast United States, fuel costs for the vehicle to get to the park are approaching $5 per gallon (about 6,400 KRW). Gasoline prices in May soared 49% in one year.

The price of ham, essential for sandwiches in the picnic basket, rose 17% during the same period, and sweet desserts increased by 15%. If you plan to buy a bicycle to ride in the park, you can be relieved. The price increase rate for bicycles or sports utility vehicles is less than 5%.

Is giving up traveling somewhere and grilling meat in the backyard an alternative? Staying home and having a low-cost vacation might seem like the best way.

However, if you plan to invite friends and have a grand party, you will need a much larger budget than usual to light the grill. The prices of propane gas and firewood rose 28% over the year. The beef price increase rate exceeded 13%. There is some consolation here as well. The price increase for beer is less than 4%.