With coronavirus cases falling and 1.8 million U.S. residents vaccinated every day, more Americans are planning this next Memorial Day weekend to rediscover old pleasures like friends, parties, trips and afternoons at a ball game.
They will also encounter something new and less enjoyable: rising prices. Prices are expected to continue to rise for much of the summer, driven, among other things, by bottlenecks limiting the supply of materials and labor and by growing consumer demand.
Memorial Day Sales
Memorial Day sales are a lasting feature of the summer three-day opening weekend, with deals on big-ticket items like washing machines and mattresses. But with rising demand, rare parts and low inventories, durable goods prices were up 7.5% from February 2020.
Airfares have also increased for those looking to get away for the weekend with a big hike recently, including a 10% increase from March to April., airfares are still 18% lower than pre-pandemic levels, which means a plane ticket costs today about what it could have done about 15 years ago. Accommodation
Investing in Memorial Day 2021
Those hoping to get into their local banks on May 31 will not have luck with all major banking institutions and credit unions closed on Memorial Day 2021. Online banking and ATMs will still be active and customers should remember that while you can make a deposit at Remember, it is not considered a business day and the trade will not be published until June 1.