Holidays will be really expensive this year!

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The pleasure of sun, sand or going on a journey is very nice. Especially after the pandemic is over, the distance expectation is increasing. This year, however, vacationers will have to bite the bullet when booking: Vacations will be much more expensive.

According to Comparis.ch, inflation rose 3.9 percent again in February. This number is above the annual average of last year. This is demonstrated by the consumer price index of the price comparison portal in collaboration with ETH Zurich. The index measures price changes using a representative basket of approximately 1050 goods and services. This shopping cart contains items for daily use such as medicines, clothes and groceries, as well as vacation trips.

This represents an impressive 46 percent increase in flight and overnight costs compared to the previous year. Whether it’s a Ballermann trip, a holiday in Switzerland or a camping trip, a huge price increase is almost inevitable.

Prices are increasing significantly in all hotel categories. Youth hostels, cottages and campsites are also getting more expensive. According to the Comparis media release, the reasons for the significant price increase include increased demand after the pandemic, increased prices of imported goods and increased energy prices.

Inflation affects the income bracket the most.

According to Comparis finance expert Michael Kuhn, inflation has clearly accelerated in 2023. “Also, due to the great uncertainty in the markets, prices will remain high in the medium term and will be a nuisance throughout the year. If the increase ever goes down, then it’s just a little bit.” This means that vacation prices probably won’t change much until the end of the year.

In the past, life became more expensive, especially for people with large incomes. The middle income class is the group that suffers the least from inflation. Language regions are also affected to varying degrees. Price increase was strongest in German-speaking Switzerland, Romandy and Romansh-speaking Switzerland compared to the previous year.

However, in a European comparison, Switzerland has escaped huge leaps. Inflation is higher in the euro area.

Source :Blick