CHARLOTTE, N.C. — There's good and bad news when it comes to the price you'll pay for a summer vacation in 2023.
The good news? Prices seem to be heading in the right direction after record inflation drove up the cost of virtually everything. The bad news? It's still expensive to book a summer vacation for your family.
According to the U.S Bureau of Labor Statistics, while most everything still costs more these days, prices are trending downward. The Bureau's "All Items Index," which measures prices paid by consumers for goods and services, increased 4% for the 12 months ending in May 2023. That's the lowest 12-month increase since March 2021.
And while the overall price index went up, some goods and services are seeing double-digit declines.
One of those items is plane tickets, which are down 13.4% from this time last year. Rental car prices are also cheaper, going down 12.4% from 2022, data shows. The even better news is gas prices are down nearly 20%, which means you'll spend much less filling your tank while on vacation.
WCNC Charlotte is always asking "where's the money?" If you need help, reach out to WCNC Charlotte by emailing money@wcnc.com.
As for what you can expect to pay more for this year, look no further than your hotel. Those prices are up 3.7% from last year. Restaurant prices are up nearly 7% and the average ticket price for attractions is up 4.6%.
Contact Carolyn Bruck at cbruck@wcnc.com and follow her on Facebook, Twitter and Instagram.
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