Study: Couples cutting back on lavish weddings

(CNN)– Engaged couples planning to tie the knot are cutting back on the amount they spend on their weddings.

The wedding business was booming in the years after the start of the Covid-19 pandemic.

The average cost of a wedding broke $30 thousand for the first time last year.

But the days of lavish, spare-no-expense nuptials appear to be winding down.

After two years of elevated inflation, some engaged couples are planning cheaper, simpler ceremonies.

We also may see fewer weddings which soared to a 25-year high in 2022.