The United States Bureau of Labor Statistic’s Consumer Price Index has released data showing that U.S. flight prices have skyrocketed a whopping 42.9% when comparing September this year to the same time last year. It’s no surprise for many as gas prices have leaped 18.2% during the same timeframe.
As we peer into the wintertime bluster of the holiday season, experts are suggesting that consumers will see the highest flight prices in over five years. The average round domestic flight is expected to cost around $463. This is a stark increase of 31% since 2019.
When looking at expected Thanksgiving holiday travel, prices are to be slightly lower than the expected Christmas-time jump. However, AAA recommends that those looking to fly wait until a couple of weeks before they plan on leaving. This is where consumers can score the best price tag.
While waiting comes at the expense of limited flight options due to low inventory, the savings can be incredible. AAA states that booking between one month and one week before you plan to leave will provide the best pricing available. If you wait until the last week, the prices will creep back up.
There’s no denying the fact that Christmas is a very popular time for air travel. Due to this high demand, prices tend to be higher than during less popular times of the year. Fortunately, you can save a bundle if you book early morning flights and are more flexible with the days that you fly.