US Travel Costs Rise 2.1% and Airline Tickets Jump 22.4%
The US Travel Price Index rose 2.1% in September, with airline tickets surging 22.4% and gasoline up 34.9% compared to last year.
The U.S. Travel Association announced that the Travel Price Index rose 2.1% in September and 8.7% year-to-date, according to the website Recommend.
Airline ticket prices jumped 1.2% during the month and 22.4% year-over-year, while gasoline rose 9.1% monthly and 34.9% annually, increases that raise transportation costs for travelers.
On the other hand, hotel accommodation prices rose 2.3% during the month and 4.3% annually, while the general Consumer Price Index recorded a 0.6% increase in September and 3.7% year-over-year.
These figures mean that traveling has become more expensive for the American consumer, as fuel and airline tickets put pressure on budgets ahead of the upcoming travel seasons.
What do these terms mean?
Travel Price Index: A measure that tracks changes in the cost of travel components such as tickets, accommodation, and fuel, and is used to measure price pressure on travelers.
Consumer Price Index: An index that measures price changes in a broad basket of goods and services, and is the most famous measure of inflation.
Year-over-year: Comparing the current figure to the same period last year, used to eliminate seasonal fluctuations.
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