
After two years of spending heavily on vacations and other experiences that they were deprived of during pandemic lockdowns, Americans may be on the brink of pulling back — a cool-down that could help slow inflation.The nation witnessed two years of red-hot “revenge spending,” the name economists and corporate executives gave to a spike in recreational spending and vacation splurging that followed coronavirus lockdowns. As demand rose, so did prices for airfares, hotels and other sought-after services.But many of those price categories are now cooling. Hotel prices have recently climbed much more slowly on a year-over-year basis, and airfares fell in May, a report on Tuesday showed. If that trend continues this summer, it could contribute to a continuing slowdown in overall services inflation, something the Fed has been watching and waiting for.“We see some slowing in so-called revenge categories,” said Yelena Shulyatyeva …