Travel Prices Are Coming Back to Earth

Skyrocketing airfares earlier this year and recent headlines about persistent inflation may be discouraging potential travelers. Yet recent data suggest that prices for hotels, air travel and rental cars are softening this autumn. And the U.S. dollar’s continued strength has driven down international travel costs.

The Consumer Price Index report released in September showed overall prices continuing to climb, which sent stocks tumbling. But underneath these wider trends sat a nugget of good news for consumers: Travel prices moderated.

Some of this trend is seasonal — prices usually drop in the fall and winter. And most travel costs, especially rental cars, remain higher than they were before the pandemic. Still, the downward pressure bodes well for travelers looking to book a trip in the coming months.

Timing is everything

According to Google, searches for “cheapest airline tickets” skyrocketed by 240% between April and August, reflecting the pinch travel consumers felt as…

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This article was written by Sam Kemmis and originally published on www.nerdwallet.com