Recent data from
September's Consumer Price Index (CPI) report reveals that while average
airfare has risen by two percent compared to the same time last year, the
pricing increase is actually significantly less dramatic when held against
overall inflation levels.
According to expert
travel source Going, formerly known as
Scott’s Cheap Flights, this is the first year-over-year increase in airfare we’ve
seen since March 2023. However, despite this small spike, airfare prices are
still 25 percent cheaper relative to overall inflation rates since February
2020’s pre-pandemic benchmark.
Going’s air travel
experts emphasized that, while there may be a recent uptick in ticket costs, a
two-month increase doesn’t necessarily indicate a larger upward trend. While
there have been consecutive monthly increases, they note that average airfare
still remains 19 percent lower than at its June 2022 peak, as well as four
percent cheaper than it was in February 2020.
Additionally, data
from the Transportation Security Administration (TSA) shows that traveler
numbers for October are down by two percent year-over-year. After peaking in
July, passenger volumes have been diminishing slowly, sot that this October
might mark the first time this year’s traveler numbers don’t exceed last year’s
levels.
"Even with
fares jumping higher in the past two months, let’s not miss the forest for the
trees: we’re still awash in cheap flights,” said Scott Keyes, Going’s Founder
and Chief Flight Expert. “In the past two weeks alone, Going’s flight experts
have found deals like $364 to Spain, $526 to Japan, and $365 to Paris, all
nonstop on full-service airlines."
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