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FX.co ★ US inflation driving wedding expenses higher

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Forex Humor:::2023-03-08T12:13:27

US inflation driving wedding expenses higher

American weddings are getting more costly every year. Record high inflation is putting strain on those who are ready to tie the knot as wedding budgets have blown up recently. According to online wedding planner Zola, couples getting married in 2023 will have to spend an average of $29,000. In 2019, before the Covid pandemic broke out, the number was close to $24,7000. It all started with the pandemic lockdowns that created a congested wedding market as people postponed the ceremony until better times. After the restrictions were lifted, the US saw an explosive wedding boom which drove the cost of vendor services higher. This year, the number of nuptials is projected to decrease but soaring inflation is not going anywhere. So, amid an unprecedented spike in consumer prices, an American wedding has become more expensive than ever. Around 83% of wedding vendors reported the cost to run their business would increase in 2023, 26% said the price of wedding goods had gone up, and 17% reported that couples were cutting budgets. More than 77% of vendors surveyed said they had to raise prices in order to pay their employees. So, couples are cutting costs in any way they can. They opt for cheaper catering, shop on the second-hand market, and host weddings on weekdays during less busy morning hours.


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