According to the U.S. Bureau of Labor Statistics, prices for airline fares were 14.37% lower in 2020 versus 2019 (a $14.37 difference in value).
Between 2019 and 2020: Airfare experienced an average inflation rate of -14.37% per year. This rate of change indicates significant deflation. In other words, airfare costing $100 in the year 2019 would cost $85.63 in 2020 for an equivalent purchase. Compared to the overall inflation rate of 0.93% during this same period, inflation for airfare was significantly lower.
In the year 2019: Pricing changed by 0.19%, which is significantly above the average yearly change for airfare during the 2019-2020 time period. Compared to inflation for all items in 2019 (1.81%), inflation for airfare was 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 2019. Each of the amounts below is equivalent in terms of what it could buy at the time:
|Year||USD Value||Inflation Rate|