Airfare priced at $100 in 1998 $127.31 in 2024

Airfare Inflation Calculator

$

Prices for Airfare, 1998-2024 ($100)

According to the U.S. Bureau of Labor Statistics, prices for airline fares are 27.31% higher in 2024 versus 1998 (a $27.31 difference in value).

Between 1998 and 2024: Airfare experienced an average inflation rate of 0.93% per year. In other words, airfare costing $100 in the year 1998 would cost $127.31 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.54% during this same period, inflation for airfare was lower.

In the year 1998: Pricing changed by 3.04%, which is above the average yearly change for airfare during the 1998-2024 time period. Compared to inflation for all items in 1998 (1.55%), inflation for airfare was higher.

Price Inflation for Airline fares since 1963

Consumer Price Index, U.S. Bureau of Labor Statistics
Years with the largest changes in pricing: 1980 (38.39%), 2022 (30.15%), and 1981 (25.87%).

View price changes for other categories
Tampa, Florida · New trucks · Fish and seafood · Rent of primary residence · More

Buying power of $100.00 since 1998

Below are calculations of equivalent buying power for Airfare, over time, for $100 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:

YearUSD ValueInflation Rate
1998$100.003.04%
1999$106.576.57%
2000$116.639.44%
2001$116.63-0.01%
2002$112.81-3.27%
2003$112.67-0.12%
2004$110.68-1.77%
2005$115.274.14%
2006$120.464.51%
2007$122.611.78%
2008$137.3712.04%
2009$125.67-8.52%
2010$135.527.84%
2011$148.119.29%
2012$148.560.30%
2013$152.342.54%
2014$149.90-1.60%
2015$142.36-5.03%
2016$137.65-3.31%
2017$134.35-2.40%
2018$129.05-3.94%
2019$129.290.19%
2020$105.98-18.03%
2021$105.980.00%
2022$137.9330.15%
2023$130.18-5.62%
2024$127.31-2.20%*

* 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:

Year19631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024
CPI23.70023.66723.83323.82023.90024.44026.20028.26230.33131.14632.20834.85437.98541.15443.50045.53149.14668.01585.60894.35499.808105.823112.500117.100122.815124.231131.638148.362155.177155.238178.723185.485189.692192.454199.223205.277218.762239.423239.408231.569231.292227.208236.615247.277251.686281.998257.971278.186304.026304.950312.709307.708292.227282.557275.783264.909265.401217.546217.549283.143267.221261.343

Adjust airfare prices for inflation

Start with the inflation rate formula:

CPI in 2024 / CPI in 1998 * 1998 USD value = 2024 USD value

Then plug in historical CPI values from above. The CPI for Airline fares was 205.277 in the year 1998 and 261.343 in 2024:

261.343 / 205.277 * $100 = $127.31

Therefore, according to U.S. Bureau of Labor Statistics, $100 in 1998 has the same "purchasing power" as $127.31 in 2024 (in the CPI category of Airline fares).


Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Airline fares in 1963. In addition to airfare, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.

» Read more about inflation and investment.