The weather outside may not be frightful, but the inflation definitely is. There's no place like home for the holidays, and this year there's going to be no escape from high prices.
"It's probably going to be the Grinch of the holidays" said Sarah Foster, analyst for Bankrate, who did a new study showing that basically, everything has gone up in price this holiday season. "We looked 40 holiday essentials, and we found that only 5 of the 40 have decreased in price, which suggests that Americans are going to paying more for everything."
That includes travel, entertaining, experiences, and of course gifts. And 2 out of 5 shoppers (40%) admit that inflation is changing the way they are shopping this year.
Another bummer is, we're not seeing that many really good deals, at least not yet.
"Some of these deals might not be as good as you think" Foster told KTRH, "The average black friday discount this year wasn't as high as it was before the pandemic, and so if you're a consumer I think it's just really important to take these sales with a grain of salt. Don't just buy it because it looks like it's a good deal right now."
And if you don't want to spend money hosting a holiday gathering, airline travel is up 43%, which Foster says is the highest increase they have ever seen.
Even gift wrap has gone way up!