Airfares are surging again after a months-long slump as carriers trim flights to ease a capacity glut

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• The latest consumer price index report showed airfares jumped 4% in July from the prior month, reversing a slump that began early this year. That’s as airlines are reducing the number of flights, easing a capacity glut, while demand has rebounded after President Donald Trump’s trade war slowed travel during the spring.

Supply and demand are coming back into balance in the airline industry, meaning airfares are shooting higher again after an extended downtrend.