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Recently, the cost of attending a sporting event has skyrocketed this fall. With everyday life returning back to normal, sporting event tickets have become the
Recently, the cost of attending a sporting event has skyrocketed this fall. With everyday life returning back to normal, sporting event tickets have become the latest victim of "funflation," a term used by economists to explain the increasing price tags of live events as consumers crave for the experiences they lost during the recent pandemic. Admission for sporting events has risen over 25 percent in October 2023 compared to October 2022. According to the Bureau of Labor Statistics' consumer price index data, this category saw the highest annualized inflation rate out of the few hundred that make up the inflation gauge. Whereas the Consumer Price Index as a whole only rose about 3.2 percent. The consumer price index covers a broad selection of prices per item such as airline tickets or eggs for example. But why the large increase of sporting events in particular? According to Victor Matheson, a professor and sports economist at the College of the Holy Cross. "People are getting back to things that they enjoy doing and are willing to pay a bunch." He also went on to explain how this high rate of inflation went through the entire leisure and hospitality sector as well. Another
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