THE COST OF DEL SOL
Summer holiday makers feel the heat with 40-year inflation high
BRITS hoping to enjoy the summer may have to tighten their belts, as the price for fun in the sun has risen considerably. This is according to the Consumer Price Index (CPI), the official method of measuring inflation in the UK, which tracks the price of a wide range of goods and services to measure the relative price change from previous years. Overall inflation reached 9.1% in May as the country contends with skyrocketing energy prices and supply chain disruption and staffing issues.
This is more than triple the rate of inflation in May 2021, and the highest rate since 1982. The Bank of England’s current inflation target is 2%.
If passport delays, winding security queues and flight cancellations weren’t enough to contend with, British jetsetters hoping to set off to warmer climates may hit turbulence with soaring air travel costs. Passenger flight prices were up 22% in the year to May, from a 13% rise in April, as the cost of jet fuel skyrocketed by 123%.
Tim Alderslade, Chief Executive at Airlines UK said: “Ticket costs factor in many things including taxes, charges, and fuel costs, but also respond to demand, and we have seen a significant rise in demand for air travel since Covid-19 travel restrictions were eased in the Spring, following two years during which the UK’s travel industry was largely grounded”.
Seafaring holiday makers have hit stormy weather themselves, as fares saw a 12% increase in the year to May. Much like airlines, a rise in operating costs driven by fuel prices is likely to blame.
Even would-be sailors hoping to enjoy Britain’s coasts and waterways have been unable to avoid the rising tide of inflation as the price of boats, motors and fitting out of boats is up 10%.
Package holidays might instead provide a cost-effective alternative for those still looking abroad, only being 3% more expensive than last May.
Fortunately the price of travel insurance has only risen marginally, allowing for some peace of mind amidst potential travel chaos.
While holidaying in the UK may have once been the preferred choice of budget-savvy Brits hoping to save on travel costs, the price of enjoying the British summer has also risen.
Stays at hotels, motels and similar accommodation have increased by 9%. However, this pales in comparison to the 24% increase in prices for holiday centres, campsites, hostels and similar.
More free spirited holidaymakers may be pleased as, despite campsites being more expensive, the price of camping equipment has only risen by 1%. Camper vans are marginally cheaper than they were last May.
Even for diehard staycationers, the cost of getting your home summer ready has grown considerably. Garden products have been consistently costlier over the past year, with a 12% price increase in the year to May, and a 9% increase for garden plants and flowers.
Garden furniture is also more expensive, with a 26% increase. Any renovations during the warmer months may have to be delayed, as the price of construction materials continues to build with a 16% rise.
Barbeques are also at risk of being burnt by inflation, as overall food costs continue to spiral. The price of burgers has risen by 11%, sausages by 13%, and chicken and condiments both by 14%
Even vegetarians can’t avoid the effects of this, with meat alternatives rising 12%. Fortunately alcoholic drinks have only risen 2%, but non-drinkers face a 10% increase in the price of nonalcoholic drinks.