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FX.co ★ Couples in US cut wedding expenses amid surging inflation

Couples in US cut wedding expenses amid surging inflation

Couples in US cut wedding expenses amid surging inflation

Surging prices all over the globe are preventing people from being happy. Thus, in April, Russia’s birth rate dropped to the lowest level last seen in 1945, whereas in the US, couples are delaying weddings.

Weddings are at risk in the US due to skyrocketing consumer prices. On the one hand, couples in the US are expected to host about 2.5 million weddings this year, a record high last seen in 1984. On the other hand, not all the guests are ready to accept a wedding invitation due to high prices. According to a Credit Karma study, 73% of wedding attendees claim that “inflation is causing a negative impact on their capacity to join in the fun at weddings and wedding-related events this year.” Other wedding expenses such as travel, accommodation, attire, and gifts also are posing problems. As a result, most wedding goers have to decline invitations. The study also unveiled that “the average number of weddings an attendee will go to this year is 2.5, with an average spend of $1,004 per guest.”

Earlier, US economists announced that inflation growth was slackening during the year. The information was provided by Head of the President's National Economic Council Brian Deese when commenting on the current situation in the country. He emphasized that the US economy was facing the consequences of various global troubles.

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