A majority of American said the inflated cost of living is preventing them from taking a summer vacation, a poll released Wednesday showed.
The online survey of 2,500 eligible U.S. voters conducted June 27-28 by Redfield & Wilton Strategies on behalf of Newsweek showed that 53% said they would take a summer vacation if the cost of living weren't so high, and 44% said they have no intention of taking a vacation over the next three months.
The poll had a margin of error of +/- 1.96 percentage points.
The poll also found that 64% said the high cost of living has affected their vacation planning, with 55% saying they're traveling to a less expensive destination, 45% saying they are taking a shorter trip than usual, 30% saying they are paying less for a hotel or accommodations, and 25% saying they are taking a different mode of transportation.
Only 4% said the high cost of living hasn't affected their travel plans.
"Life has gotten a lot more expensive in recent years, which is why so many people are struggling to afford vacations," Ted Rossman, a senior industry analyst at Bankrate, told Newsweek.
Although inflation has dropped to 3.3% from a high of 9.1% in June 2022 under President Joe Biden, consumer prices have risen 20% since Biden took office, according to the Bureau of Labor Statistics.