Travel Prices Decline, Lead the Way for Overall Economy

U.S. Travel Association | July 15, 2024

WASHINGTON - Thursday’s Consumer Price Index (CPI) release for June reveals an encouraging trend: Inflation is easing across the board—and travel-related goods and services are at the forefront. For the second month in a row, prices throughout the travel sector have fallen, and at a steeper rate than the overall economy. According to the U.S. Travel calculated Travel Price Index (TPI), prices decreased an impressive 1.4% from the previous month, led by lower hotel, airline and gas prices. In contrast, the overall economy saw a modest 0.1% decrease, the first monthly decline since 2020. Comparisons month-to-month, year-over-year, and ...