Rising Airfare Prices Remain Low Relative To Overall Inflation

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.”