According to the U.S. Bureau of Labor Statistics, prices for airline fares are 8.42% lower in 2023 versus 2014 (a $8.42 difference in value).
Between 2014 and 2023: Airfare experienced an average inflation rate of -0.97% per year. In other words, airfare costing $100 in the year 2014 would cost $91.58 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 2.72% during this same period, inflation for airfare was significantly lower.
In the year 2014: Pricing changed by -1.60%, which is below the average yearly change for airfare during the 2014-2023 time period. Compared to inflation for all items in 2014 (1.62%), inflation for airfare was much lower.
Below are calculations of equivalent buying power for Airfare, over time, for $100 beginning in 2014. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|
* 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: