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According to consumer price index data released in July 2023, even though flight prices had dropped by 18.9% since June 2022, they remain elevated. ... it is down by $1.38 from June of last year ...
Airline ticket prices have now settled around an average of $270, ... So while I think that airfare this summer is going to be about the same as last year, there are still deals out there.” ...
Travel experts expect flight prices to drop as the summer months wane, with some predicting domestic round-trip ticket prices could drop below $300 on average this fall.
What's going on with airline prices?Well, just about everything, according to Cowen Senior Research Analyst Helane Becker. "Costs are going up and fares are going up — that's the bottom line ...
Still, fares have come down. Airline revenue per passenger mile has declined from an inflation-adjusted 33.3 cents in 1974, to 13 cents in the first half of 2010. In 1974 the cheapest round-trip New York-Los Angeles flight (in inflation-adjusted dollars) that regulators would allow: $1,442. Today one can fly that same route for $268.
Airline deregulation is the process of removing government-imposed entry and price restrictions on airlines affecting, in particular, the carriers permitted to serve specific routes. In the United States, the term usually applies to the Airline Deregulation Act of 1978.