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March 4, 2024

Airfares were already dropping. Here's why they could go even lower in 2024

  • U.S. airfares are, on average, 15% lower now than they were a decade ago, and 6% lower than this time last year.
    • By SALLY FRENCH
    NerdWallet

    iStock image
    New, smaller airlines (particularly low-cost carriers) are also competing for customers, which helps bring down airfares.

    Inflation has hit most of the economy, but that's hardly the case with airfare. Not only are airfares down 6% year-over-year based on January 2024 prices, but they're even down 15% versus a decade ago. That's according to consumer price index data from the U.S. Bureau of Labor Statistics published in February. Some experts predict airfares to international destinations will drop even lower in 2024.


     
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