Yes, airfares are rising, but not as much as the prices of other goods and services.
“Airfares are rising in nominal terms in the U.S. and Europe, but the increase is small relative to other consumables,” Jeremy Bowen, CEO of aviation analysis firm Cirium, said in a statement. People will appreciate it highly.” “Cirium’s data team will continue to monitor the impact of increased capacity in the market on freight rates despite aircraft availability challenges such as groundings, engine issues and supply chain constraints. ”
The average U.S. domestic airfare in 2023 was $179.25, an increase of 9% from 2019, according to Cirium data.
Cirium said it compared these numbers with inflation data from the Bureau of Labor Statistics, which found the overall inflation rate for the same period was 19%.
Transatlantic airfares also rose 14% to $435.17 in 2023, compared to $381.08 for a one-way economy ticket in 2019, but still below the rate of inflation.
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In fact, premium tickets are relatively down across the Atlantic. Business class tickets in 2023 were on average 3% cheaper than in 2019.
Business travel has been slower to recover than leisure travel following the pandemic, so some airlines may be discounting business class tickets to fill cabins.
For travelers, the price adjustment means it's a relative bargain to fly in any cabin, as prices in other sectors of the economy are rising more rapidly.
Zach Wictor is a travel writer for USA TODAY based in New York. Please contact us at zwichter@usatoday.com.
