HOUSTON — Good news for anyone planning to fly. The government’s latest inflation report shows airline tickets are down about 8% since July.
"I feel like it went up but now it's going back to, like, normal prices," traveler Kali Thomas said.
Airline tickets peaked in May as pent-up pandemic demand filled planes and fuel prices soared.
"I know how high they can be, so when I find a reasonable flight, I jump on it immediately," Sharrie Scott said.
Flights to San Diego are now $230 cheaper on average than the May peak. Prices to Hawaii are down about $154, and even flights to Prague cost about $300 less.
Hayley Berg is the lead economist with travel website Hopper.
“If you're looking for a deal on airfare, now is the sweet spot," Berg advised.
Berg said that round-trip domestic tickets for September and October right now will cost travelers on average $238. That’s down roughly 37% since May.
Berg expects prices to top $300 again by November and go up from there as people book for the holidays.
"Though prices have fallen from the peak earlier this summer, well over $400, they are still relatively high,” Berg pointed out. “Prices will probably drop a little bit between now and the middle of October. You will want to book your holiday travel by that second week of October."
Berg pointed out that holiday fares are expected to stay below that peak seen in May but will still cost more this year versus last year to fly during the holidays.
Hopper’s best advice for booking is to start looking now, shop around and be flexible with your dates.