Wednesday, December 18, 2013

Airfares Soaring Higher

Are you traveling this holiday season? If so, you might have noticed that plane tickets are getting increasingly expensive. The cost for a domestic round-trip ticket was about $356 last year, up 3.6 percent from the year earlier.

But that doesn’t tell the whole story for holiday travelers. Tickets for this time of the year are rising in cost even faster. Airfare for travel between December 21 and January 1 increased 7.5 percent from the year earlier.

And the rate at which airfare is rising is speeding up in the post 9/11 world. The average ticket price rose by 24 percent between 2009 and 2012, whereas it had risen by 16.4 percent between 2005 and 2008. Even adjusting for inflation, airfare increased by 10.3 percent between 2005 and 2012.


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