Funflation is fueling hobbies as Americans spend more on fun at home to avoid going out

As “funflation” makes the cost of leaving the house increasingly expensive, some Americans are turning their spending toward having fun at home.

Spending on hobbies increased 7.9% year over year in August, more than double the 3.4% growth in transactions. That’s the opposite of what happened last August, when transaction growth outpaced spending growth by nearly a percentage point,  according to a recent report by the Bank of America Institute analyzing the bank’s card data. That spending growth was double the increase in hobby-related transactions, suggesting consumers were spending more on each purchase.

Some of the biggest spenders on things like arts and craft stores, hobby shops, and outdoor recreation providers and retailers include older Millennials, who are most likely to have children and could be spending not just on their own hobbies but........

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