According to the U.S. Bureau of Labor Statistics, prices for airline fares were 17.88% lower in 2020 versus 2018 (a $17.88 difference in value).
Between 2018 and 2020: Airfare experienced an average inflation rate of -9.38% per year. This rate of change indicates significant deflation. In other words, airfare costing $100 in the year 2018 would cost $82.12 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 1.52% during this same period, inflation for airfare was significantly lower.
In the year 2018: Pricing changed by -3.94%, which is significantly above the average yearly change for airfare during the 2018-2020 time period. Compared to inflation for all items in 2018 (2.44%), inflation for airfare was much lower.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Airline fares:
Below are calculations of equivalent buying power for Airfare, over time, for $100 beginning in 2018. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|