By Gabrielle Olya
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Here’s a look at just how much more expensive the holidays are in 2022.
Americans Are Spending Hundreds More on Gifts
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Travel Costs Are on the Rise
Over 51% of Americans said that they have noticed higher travel prices this year than last, which could be why 16% said they are skipping out on holiday travel in 2022.
CNN reported that 2022 is the “most expensive holiday travel season ever,” with hotel room rates up 12% from 2019, rental car prices up 46% from 2019, airfare up 41% from 2021 and gas prices up 8% from 2021.
To make the most of higher prices, Jenny Ly, founder at Go Wanderly, recommends making holiday travel purchases with a credit card that gives you rewards in this category.
Christmas Trees Are Also More Expensive
With record-breaking high prices, 7% of Americans who participated in the survey said they will not be buying a live Christmas tree this year due to rising costs.
If you do opt to buy a live Christmas tree this year, look for ways to cut costs.
“For those looking to get a real Christmas tree from a farm, I recommend asking if there’s any discount for cutting or wrapping the tree yourself,” Zack DeAngelis, founder of Tree Journey, told Trees.com. “The farm will most likely have certain trees that haven’t grown well and are less desirable. These can cost even less, which can help you save more if you’re in a pinch.”
Food Prices Are Making Holiday Entertaining More Costly
Most Americans (78%) have seen an increase in the cost of the food they buy for holiday entertaining. This isn’t surprising given that grocery prices have steadily been on the rise over the past year — the “food at home” category in the latest consumer price index showed a total 12% spike in cost over the last 12 months.
To save on holiday meals, consider inviting fewer people, serving a limited menu and/or making it a potluck.
Maddie Duley and Andrew Lisa contributed to the reporting for this article.