Average U.S. airfares had been declining on a
month-over-month basis since June, but that trend reversed in September, with
the average price increasing 0.8 percent compared with August 2022, according
to the latest U.S. Consumer Price Index, released Thursday.
Through the spring months of March, April and May, fares had
increased month to month by double digits, then leveled off and started to
decline in June (-1.8 percent), July (-7.8 percent) and August (-4.6 percent).
Airfares on a year-over-year basis, however, have increased each month, but
September’s 42.9 percent spike has been the highest change so far in 2022.
Factors to consider for the surge include the increase of
cases during the late summer of 2021 of the Covid-19 delta variant, which dampened
demand a year ago; the continued return of business travel demand, which this
year outpaced that of September 2021; continued
capacity constraints; and the extension of summer leisure demand into September 2022, as noted by multiple carriers during second-quarter earnings
calls.
[email protected] (Donna M. Airoldi)
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