Passengers are seen at the Delta Air Lines check-in counters at Hartsfield-Jackson Atlanta International Airport ahead of the Fourth of July holiday in Atlanta, Georgia, July 1, 2022.
Elijah Nouvelage | Reuters
Flights, believe it or not, are getting cheaper.
Airfares fell a seasonally-adjusted 1.8% from May to June, according to the latest U.S. inflation data, published last week. Fares were one of the few categories to decline at a time when consumer prices rose at the fastest clip in more than four decades.
The surge in spring and summer travel — even at sky-high prices — has been a boon to airlines, driving revenue above 2019 levels even as airlines fly less than they did before the pandemic, according to recent reports from major carriers like Delta Air Lines and American Airlines.
Now the question is: How resilient will demand be after the summer peak as carriers and