How Three—or Four—Factors Have Combined to Increase Travel’s Affordability

Aaron Szyf | August 4, 2023

A combination of increased wages, cooling overall inflation and declining travel prices have recently made travel more affordable. By Aaron Szyf Below, we take a deep dive into the data and what it means for travel.  By the numbers: •  Wages: Average private sector wages were up 4.4% in June year-over-year (YOY). This exceeds the rate of inflation (3.0% YOY), meaning that purchasing power has increased. •  Overall inflation: Overall inflation moderated in June. While prices were still up 3.0% YOY, this is the lowest YOY increase since March 2021. •  Travel inflation: While overall prices moderated, travel prices d...