About this episode

The episode discusses the disconnect between reported inflation rates and the high costs of leisure activities, featuring insights from economists and industry experts.

Inflation is cooling — at least on paper — so why does a night out still feel shockingly expensive? In this episode of J.P. Morgan’s Making Sense, U.S. rates strategist Harry Downie is joined by senior economist Mike Hanson and David Karnovsky, head of the U.S. Media, Entertainment and Advertising research team, to unpack the latest CPI report through the lens of “funflation” — rising costs tied to leisure and entertainment. They discuss what the CPI print says about the broader inflation trend, why prices can remain high even as inflation slows and why services inflation is still sticky. The conversation then shifts to premium entertainment, using IMAX and the current blockbuster hit The Odyssey to explore what’s driving leisure pricing trends today. This episode was recorded on August 12, 2026. This communication has been prepared based upon information from sources believed to be reliable, but J.P. Morgan does not warrant its completeness or accuracy except with respect to any disclosures relative to J.P. Morgan and/or its affiliates and an analyst's involvement with any company (or security, other financial product or other asset class) that may be the subject of this…

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