Wave of summer travel expected over July Fourth holiday as hot inflation loosens grip

Travel activity is expected to heat up to record levels around the Independence Day holiday as consumers take advantage of cooler prices for airfares, gasoline and hotels. AAA expects a record number of people to hit roads and airports during the week between Saturday June 29 and Sunday, July 7. The motor club forecasts that roughly 70.9 million people are planning to travel, the most since before the pandemic. The hot travel forecast comes amid broader worries that consumers are becoming more cautious on spending outside of necessities, which is a key factor to a cooling economy.