According to the U.S. Bureau of Labor Statistics, prices for airline fares were 2.12% lower in 2024 versus 2023 (a $2.12 difference in value).
Between 2023 and 2024, Airfare experienced an average inflation rate of -2.12% per year. This rate of change indicates significant deflation. In other words, airfare costing $100 in the year 2023 would cost $97.88 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.95% during this same period, inflation for airfare was significantly lower.
In the year 2023: Pricing changed by -5.62%, which is significantly below the average yearly change for airfare during the 2023-2024 time period. Compared to inflation for all items in 2023 (4.12%), inflation for airfare was much lower.
Airfare prices are up 22.4% over the past year, but your own inflation rate depends on everything you buy. The personal inflation calculator works it out from your budget.
Below are calculations of equivalent buying power for Airfare, over time, for $100 beginning in 2023. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2023 | $100.00 | -5.62% |
| 2024 | $97.88 | -2.12% |
| 2025 | $95.90 | -2.02% |
| 2026 | $113.97 | 18.84%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Airline fares:
| Year | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
| CPI | 23.700 | 23.650 | 23.767 | 23.842 | 23.867 | 24.367 | 26.200 | 28.258 | 30.333 | 31.150 | 32.208 | 34.850 | 37.983 | 41.158 | 43.500 | 45.533 | 49.142 | 68.017 | 85.608 | 94.350 | 99.808 | 105.825 | 112.500 | 117.100 | 122.817 | 124.233 | 131.642 | 148.358 | 155.175 | 155.242 | 178.725 | 185.483 | 189.692 | 192.450 | 199.225 | 205.275 | 218.758 | 239.425 | 239.408 | 231.567 | 231.292 | 227.208 | 236.617 | 247.275 | 251.686 | 281.998 | 257.971 | 278.186 | 304.026 | 304.950 | 312.709 | 307.708 | 292.227 | 282.557 | 275.783 | 264.909 | 265.401 | 217.546 | 217.549 | 283.143 | 267.221 | 261.550 | 256.277 | 304.556 |