Good news for travelers: after a period of higher prices across the board, inflationary pressures are starting to slow, and U.S. airfare, hotels, and gas prices are on the decline.
Domestic airfare dropped 5.9% in May 2024, from May 2023 levels, according to the latest Consumer Price Index data. Gas prices are still up modestly from a year ago, but are down from recent weeks, falling to an average pump price of $3.43 per gallon in mid-June from $3.58 a gallon at the end of May, according to the U.S. Energy Information Administration. And U.S. hotel rates declined nearly 2% from a year ago, the CPI found.
