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The price of tickets for sporting events soared by an astounding 25% in October compared to the same period last year — a consequence of the surging rate of what economists call “funflation.”

Federal data released by the Department of Labor highlighted the booming demand for live, in-person entertainment and experiences such as concerts, dining out in restaurants, and sporting events.

The rate of inflation for sports tickets far outstripped that of groceries (2.1%), electricity (2.4%), cigarettes (7.6%), and rent (7.2%), according to the Bureau of Labor Statistics.

The Consumer Price Index, which gauges the rate of inflation for hundreds of items, rose 3.2% in October — a slight cooling from the inflationary trend that has hamstrung shoppers since the end of the coronavirus pandemic.

The latest inflation figures have given investors hope that the Federal Reserve will pause its hikes of interest rates.

However, cooling inflation hasn’t helped sports fans looking to catch their favorite team.

Analysts said that professional sports leagues slashed ticket prices in 2022 in hopes of luring fans back to arenas and stadiums after a lengthy period during which they were largely confined to their homes in the COVID period.

That would explain the surge in ticket prices this year as Americans settle into a pre-pandemic normalcy.

Economists coined the term “funflation” to describe the phenomenon whereby consumers splurge on discretionary items at a time when prices for necessities such as gas, food, a new car, and rent continue to climb.

Weve seen this through the entire leisure and hospitality sector, Victor Matheson, a professor and sports economist at the College of the Holy Cross, told CNBC.

People are getting back to things that they enjoy doing and are willing to pay a bunch.

Another reason for the spike has been the adoption of dynamic pricing by ticket-selling platforms. Instead of fixed pricing, the sites use a variable scale in which price points are determined based on the demand for the event at that particular time.

Sales of tickets to National Football League and the National Hockey League games doubled this year compared to 2022, according to secondary ticket marketplace StubHub.

National Basketball Association ticket sales rose some 60% at the start of the season compared to last year while college football ticket sales increased 50% this year.

It isn’t just sporting events that are fetching eye-popping sums for tickets.

Pop stars like Taylor Swift and Beyonc are being credited with generating billions of dollars for local businesses during their respective concert tours.

Swift’s Eras Tour, which is currently on its international leg, is believed to be the most lucrative in US history — generating $5 billion in consumer spending.

Swifties are paying through the nose to see the “Shake It Off” crooner — with average ticket prices clocking in at $456.

Swift herself stands to earn an estimated $4.1 billion from the tour alone.

The six shows that Swift performed in Los Angeles generated some $320 million for the county while her Denver concerts brought in $140 million to Colorado’s coffers, according to data reviewed by The Washington Post.

Beyoncs just-completed Renaissance tour is estimated to have generated $4.5 billion in the US, according to The New York Times.

The pop star was blamed for single-handedly fueling higher levels of inflation in Sweden, where fans from around the world flocked to see her show — driving up the prices of food at restaurants as well as hotel rooms.

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Phillies pound Mets, punch ticket to postseason

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Phillies pound Mets, punch ticket to postseason

NEW YORK — Bryce Harper and the Philadelphia Phillies clinched their third consecutive playoff appearance Friday night with a 12-2 victory over the New York Mets.

Assured at least a National League wild card, the Phillies can secure their first NL East title since 2011 with one more win this weekend against the second-place Mets at Citi Field.

With the division crown so close, Philadelphia planned a mellow celebration following Friday night’s game — hoping to let loose soon with a boozy clubhouse bash after locking up first place.

Seeking their third World Series championship, the Phillies overtook Atlanta for the division lead on May 3 and haven’t trailed since. Their victory coupled with the Braves’ 4-3 loss in Miami eliminated Atlanta from contention for the NL East crown — ending its six-year reign atop the division.

Alec Bohm had four hits and four RBIs, including a three-run homer, in Friday night’s blowout. Nick Castellanos had three hits and two RBIs, J.T. Realmuto added a two-run homer and the Phillies extended their NL East lead to seven games over the second-place Mets (85-69) with eight to play.

Philadelphia stole five bases — four in a six-run fourth inning capped by Bohm’s homer off reliever Adam Ottavino. Johan Rojas had a two-run double off starter David Peterson (9-3), who was pulled after just 64 pitches and 3 2/3 innings — his shortest start of the season.

Cristopher Sanchez (11-9) overcame a shaky start and five walks in five innings for the win. Philadelphia outhit the Mets 17-4.

Philadelphia (92-62) has the best record in the major leagues and is on track for a first-round bye in the playoffs. It’s the third time the Phillies have reached the postseason three years in a row (1976-78 and 2007-11).

Philadelphia won five straight NL East titles from 2007-11, then went 10 years without making the playoffs. A wild-card entry each of the past two postseasons, the Phillies put together consecutive October runs that ended in heartbreak.

They reached the 2022 World Series, losing to Houston in six games, and dropped a seven-game NL Championship Series to Arizona last year after leading the underdog Diamondbacks 2-0 and 3-2.

So this time, the Phillies are looking to go all the way and finally finish the job.

Philadelphia’s only World Series championships came in 1980 and 2008.

Information from The Associated Press was used in this report.

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Soto scratched after reporting soreness in leg

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Soto scratched after reporting soreness in leg

OAKLAND, Calif. — New York Yankees star right fielder Juan Soto was scratched from the lineup a day after hurting his left leg sliding into a wall to make a catch.

Soto was originally in the lineup for Friday night’s series opener against the Oakland Athletics but was pulled out after reporting soreness and swelling in the leg. Manager Aaron Boone said X-rays were negative and Soto will not need additional testing.

Soto hurt the leg Thursday in Seattle when he slid into the short wall in foul territory down the right-field line while making a highlight-reel catch. He remained in the game.

Boone said Soto is day-to-day. The manager noted that he wasn’t “overly concerned” that the injury will linger into the postseason. The Yankees clinched a playoff berth Wednesday night and went into Friday holding a four-game lead in the AL East over Baltimore with nine games to play.

“Guys do a good job of knowing how to protect themselves and playing smart in certain situations,” Boone said. “I think him getting down the way he did protected him a little bit. Obviously, he bruised it and he’s out today. But I think the way he did it avoided something serious.”

Soto is batting .286 with 40 homers and 103 RBIs in his first season with the Yankees. He entered the day second in the majors with 125 walks, 284 times on base and a .418 on-base percentage, trailing only teammate Aaron Judge in all three categories. Soto is third in the majors with 120 runs scored.

Soto missed three games in June with left forearm inflammation.

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A’s brace for emotions of final Coliseum ‘hurrah’

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A's brace for emotions of final Coliseum 'hurrah'

OAKLAND, Calif. — The A’s began their final homestand of their final season in Oakland on Friday night, and nobody can predict what might take place over the next six games and seven days.

After 57 seasons in the Coliseum, there will be emotion, but how that emotion will manifest itself is the main question on everyone’s mind.

“We’ve heard some rumblings, and we’re going to have some more meetings about it,” said left fielder Seth Brown, who, in his sixth season, is the longest-tenured Athletic. “The fans have always supported us, and we just hope they support us in a positive manner. We want everyone to come out and enjoy the time and give it its last hurrah, and at the same time we’re hoping it’s done the right way.”

The A’s will play three games against the New York Yankees before finishing the home portion of their schedule with three games against the Texas Rangers. The final game, on Thursday afternoon, will be the final major professional game in Oakland, which has lost three major franchises — the Warriors, the Raiders and now the A’s — in five years.

Beginning next spring, the A’s will play a minimum of three seasons in a minor league ballpark in Sacramento before making a permanent move to Las Vegas.

The A’s have been forced to deal with one off-the-field distraction after another over the past two seasons, from the Las Vegas announcement last April to the Sacramento announcement this April.

“This isn’t really new for us,” A’s manager Mark Kotsay said. “But the emotion last year was a lot greater in terms of the anger. This year has been really, really calm, and I don’t know if that’s because they’ve gotten the anger out. There’s still going to be that emotion as we near Thursday, but that’s part of whenever the healing process starts.”

Fans in Oakland have staged numerous protests aimed at owner John Fisher, who pulled out of a massive development deal in Oakland in April 2023 and announced the move to Las Vegas. There was a highly publicized “reverse boycott” last year and an Opening Day parking lot boycott — where fans congregated in the parking lot but refused to enter the stadium — this season.

Before Friday, the team had drawn 738,438 fans, the worst in Major League Baseball.

“The last three games are going to be pretty epic for us and the fan base,” outfielder JJ Bleday said. “I’m kind of looking forward to it, though. It’ll be exciting to play some games with a crowd. Obviously, I feel bad for the fan base, but we’ll be a part of history.”

The A’s have instituted some precautions for the final homestand, alerting the players to be aware of their surroundings in case fans decide to take the field. Players have also been told not to gather for photographs with family on the field after games.

“Just get on out of there,” Bleday said.

Before Friday’s series opener against the Yankees, fans taped the ubiquitous “SELL” signs to the railings in the right- and left-field bleachers. Another sign — “VIVEK REPENT” — was a reference to Sacramento Kings owner Vivek Ranadive, who also owns the Triple-A Sacramento River Cats, who will share Sutter Health Park with the A’s.

Ranadive, a friend of A’s owner Fisher, engineered the deal to provide the A’s with a temporary home, rent-free.

“I wish we were staying here,” Bleday said, “but it’s not up to me. I do have a jar ready to fill up with some dirt, though.”

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