Summer travelers face “vacation inflation” as airfare, gas prices rise

Americans with plans to travel for Memorial Day weekend or this summer are likely to face higher costs for everything from gas and airfare to activities and lodging.

“If you’re going anywhere for Memorial Day weekend, you’re going to be experiencing what can only be called ‘vacation inflation,'” said CBS News senior transportation correspondent Kris Van Cleave.

It’s not deterring Americans from taking trips, though. For example, Nashville, Tennessee, is expecting 18 million visitors this year, slightly above last year’s total. Among them is Steve Hoskins, a Rochester, New York, resident who told Van Cleave he’s facing higher costs regardless of whether he’s traveling or staying home.

“There’s sticker shock on pretty much everything we do,” Hoskins told CBS News. 

Nashville reflects broader pricing trends nationwide. Flights to the city cost $121 more than a year ago, according to travel site Kayak. Nationally, average domestic airfare is about $383, up $89 from last year.

Driving may not save travelers money either: Gas prices have risen $1.42 per gallon from a year ago, according to AAA.

Sally French, travel rewards expert at consumer finance site NerdWallet, said she expects Americans to stay closer to home this summer to try to control their travel costs. 

“People aren’t necessarily looking at going abroad or going cross-country,” she told CBS News. 

Vacation-related costs continue to climb. Activities are up more than 5.5% from a year ago, lodging costs have risen 4.3% and dining out prices are up more than 3.6%, according to NerdWallet.