Surcharges Are Suddenly Everywhere--And Grumpy Americans Are Paying Up [View all]
An extra 3% for paying with a credit card. A 5% involuntary contribution to a restaurant’s employee wellness fund. $25 a month in addition to rent for trash collection.
Consumers already weary of rising inflation are now contending with a new crop of costs that are hidden in plain sight. New fees or surcharges are popping up everywhere as companies search for ways to recoup their own rising costs while blaming outside pressures.
In recent weeks, package-delivery companies and airlines have announced new or higher fees, citing increasing fuel prices. Economists expect more to follow unless oil prices rapidly fall.
Surcharges increase pressure on consumers, whose spending drives the economy. On Friday, the University of Michigan’s survey of consumers reported its lowest-ever sentiment reading, beating out the 2008 recession and the pandemic, pointing to Americans’ increasing concerns over rising prices.
Yet there is a simple reason why companies like these types of fees, which often don’t show up until a customer is already checking out: They work.
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