With the inflation rate reaching 9.1%, the largest annual increase since November 1981, it’s becoming a bigger financial commitment for families to enjoy their favorite summer actives, such as, attend a baseball game, a movie, or Disneyland.
The Hustle found that these family outings have “increased in cost at 2-3x the rate of inflation — and that, in order to afford them, today’s American families have to work up to 2x as many hours as they did 60 years ago.”
Since 1960, the cumulative rate of inflation across all goods in the US has been 888% (meaning $1 in 1960 is $9.88 today). By contrast, baseball tickets, ballgame beer, and hot dogs have gone up more than 1,000%.
At $16.79, the average cost to park a vehicle at a baseball game today is 6,616% more than it was in 1960 — 7.5x the rate of inflation!
All in all, today’s family movie outing averages $68.73. Back in 1960? About $3.76 ($34.15, adjusted for inflation).
In 1960, an adult ticket was $1.60, and a child’s ticket (ages 3-11) was just $0.60. A 10-ride pass was an additional $3.95 (adult) and $2.95 (child). Those combined costs would be $54.81 for an adult and $35.06 for a child, adjusted for inflation.
Today’s prices today are far steeper: Tickets clock in at $149 and $141, respectively.
Once $18/night ($178 in today’s money), a double-bed room at Disneyland Hotel will now set you back $445.
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Read more at TheHustle.com.