According to the U.S. Bureau of Labor Statistics, prices for airline fares are 24.39% higher in 2023 versus 2021 (a $24.39 difference in value).
Between 2021 and 2023: Airfare experienced an average inflation rate of 11.53% per year. This rate of change indicates significant inflation. In other words, airfare costing $100 in the year 2021 would cost $124.39 in 2023 for an equivalent purchase. Compared to the overall inflation rate of 5.97% during this same period, inflation for airfare was significantly higher.
In the year 2021: Pricing changed by 0%, which is significantly below the average yearly change for airfare during the 2021-2023 time period. Compared to inflation for all items in 2021 (4.70%), inflation for airfare was much lower.
Below are calculations of equivalent buying power for Airfare, over time, for $100 beginning in 2021. 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: