Home Travel News & Insights Hospitality inflation rate drops to 8.3%

Hospitality inflation rate drops to 8.3%

by admin
Hospitality inflation rate drops to 8.3%

Hospitality inflation rate drops to 8.3%

This marks the most affordable rate considering that May 2022, according the Office for National Statistics (ONS).

Costs in the sector fell by 0.1% in between July and August 2023, compared to an increase of 1.0% in between the very same 2 months a year earlier.

The relieving in the rate showed a down impact from lodging services, where rates fell on the month this year however increased a year back.

Total inflation slowed once again this month, with ONS information revealing the general customer rate inflation was 6.7% in August, below 6.8% in July.

The relieving in the yearly inflation rates in August 2023 showed significant down impacts from food and non-alcoholic drinks, dining establishments and hotels, and entertainment and culture however were partly balanced out by upward contributions from transportation, and real estate and family services.

Food and non-alcoholic drink rates increased by 0.3% in between July and August 2023, compared to an increase of 1.5% in between the very same 2 months a year earlier.

This led to an alleviating in the yearly rate to 13.6% in August 2023, below 14.9% in July and a current high of 19.2% in March 2023, which was the greatest yearly rate seen for over 45 years.

Find out more

You may also like

Leave a Comment

Travel more for a lot less!

GET ALERTS STRAIGHT TO YOUR EMAIL. TRY IT.

TravelSaverXL.com - Travel Agents worldwide

Looking to book an international flight? You probably want to get the best price (don't we all!) for the best possible flight. Here is why you should choose Travel TravelSaverXL.com for your business trip or family vacation:

Best Service from TravelSaverXL.com

With a global knowledge base, superior booking leverage, and a global knowledge base, TravelSaverXL.com can offer you the best possible service for:

  • Finding the best prices on flights.
  • Being your advocate before, during and after travel.
  • Providing you with high-quality information about your trip.
  • Giving you travel tips and ideas.

TravelSaverXL.com - Travel Agents worldwide Know the Best Itineraries

Taking a vacation to Sri Lanka, Costa Rica, Europe or any international spot is a considerable investment. Sometimes the best "deal" might not actually be the best use of your time and money. Experienced travel agents know the best itineraries for travels and tours and they can make sure you not only get the best deal but the best possible holiday trip.

Relax, You are in Good Hands

Your best bet for a good price and a great time? Save time and money by letting a highly-connected and experienced Travel Agent from LA make your plans for you. Know what that means? When you let your travel agent take care of your plans, you just get to relax and have a wonderful time!

[smbtoolbar]

Got a Question?

    Copyright TravelSaverXL.com © 2019. All Rights Reserved