'Funflation' is on the rise as hobbies get pricier, but consumers keep spending anyway

It's getting more expensive to have fun in America, but consumers are splurging anyway, seeking out experiences ranging from outdoor activities to video games. The Bank of America's latest analysis suggested that "funflation" — the increased cost of fun — may be rising, but consumers aren't cutting back. In fact, spending on hobbies, which ranges from arts and crafts and hobby shops to retailers selling skiing, hiking, camping, or scuba diving gear, grew 7.9% in August 2026, year on year, per the bank. This was double the growth of actual transactions, which were up 3.4%, meaning consumers are making more hobby purchases overall, as well as spending more on those hobbies.