Airline tickets up 25% Y-o-Y; Travel costs up 16% since pre pandemic

Economy
1

CNBC

Airline ticket prices are up 25%, outpacing inflation — here are the ways you can still save

While inflation has regularly made headlines lately, with many pointing to the roughly 8% figure from the Consumer Price Index, there are still several consumer spending categories surpassing it, including the price of airline tickets. In the last year, the consumer price index for airline tickets has shot up by 25% — the largest jump since the Federal Reserve of St. Louis began tracking the index in 1989. In April alone, airfares spiked 18.6%, according to the Bureau of Labor Statistics.

NerdWallet

Travel Inflation Report: June 2023
Travel prices are rising again, with hotel room rates marking record highs this month.

As far as the bad news, U.S. hotel prices have hit record highs. Meanwhile, airfares are also up this month versus last.

But there’s some good news too. Relative to this time last year, airfares are actually down pretty significantly. In fact, the average cost of flights in the U.S. May 2023 is about 13% less than what it was in May 2022.

Though no matter how you slice it, all travel prices are up from what they were pre-pandemic. According to NerdWallet’s Travel Price Index, the overall cost of travel is up 16% compared with May 2019

image
image1057×771 47 KB

2

I am wondering how many people got 16% (or even 25%) pay increases since pre-pandemic.

I’m thinking to many people did.

3

I live in NJ and going to a wedding in Green Bay late July. Not only are the prices high, but I can’t get a straight flight. It’s two flights there and back. That was the deal breaker for me. We’re driving. I’m on vacation, no biggy to me. They can KMA.

3 Likes
4

I think straight flights ended a long time ago.
It may have gotten worse recently, but hubs and changing flight have been pretty big since the early 90s or so.

5

I guess you’re right. I’m just not doing it. I don’t like the hassle of flying anyway. Times it by 2 and I’m out. I know the alternative is a 16-18 hour drive. But I’d rather do that in comfort than fly 4X back and forth in agony.

2 Likes
6

As you wish. :grinning:

Apparently 9 cities serve Green Bay.

  • Atlanta,
  • Chicago,
  • Denver,
  • Detroit,
  • Ft Myers,
  • Las Vegas,
  • Minneapolis,
  • Orlando, and
  • Phoenix.

Or you can fly to Milwaukee and drive 2 hours to Green Bay

  • New York, New York – JFK – JetBlue, Endeavor Air
  • New York, New York – LGA – Endeavor Air
  • Newark, New Jersey – EWR – Republic Airline
  • Philadelphia, Pennsylvania – PHL – American
7

Right. But you can’t fly straight there from NJ.

1 Like