Airfares are back to normal — so why do they feel so high?
By Sally French | NerdWallet
Inflation has rattled nearly every aspect of Americans’ finances, including vacation budgets. But one major travel cost isn’t just lower than it was last year — it’s even lower than pre-pandemic.
June 2023 airfares are 18.9% lower than what they were in June 2022, according to July 2023 consumer price index data released by the U.S. Bureau of Labor Statistics (BLS).
Considering that booming demand — alongside other factors like high jet fuel costs — led to record-high airfares last summer, it’s not surprising to see prices normalize. Not only have air travel costs come back down to earth from 2022’s highs, they’re even lower than pre-pandemic prices.
According to BLS data, June 2023 airfares are down 1.33% from what they were in 2019, when airfares were already trending lower. Relative to what prices were a decade ago, they’re even cheaper.
Pandemic aside, airfares have been trending cheaper
Before the pandemic, airfares had steadily been trending downward since 2014, save for a small bump in 2019. In 2020, prices dropped sharply with the onset of the pandemic, with June 2020 airfares averaging 27% lower than June 2019 airfares.
