The U.S. Travel Association’s Travel Price Index (TPI) tracks the cost of travel in the United States using U.S. Department of Labor data from the monthly Consumer Price Index (CPI). U.S. prices edged higher in July, but travel prices remained lower than a year ago for the sixth month in a row.
Airfares grew 4.0%, marking the first monthly price increase for the category since January. However, airfares are still only 0.7% higher than the same time last year. On a longer term basis, airfares are still below pre-pandemic levels of 2019.
Hotel prices fell for the 5th consecutive month, down 1.3% in July and 4.8% below July 2024 levels. Gas prices fell 2.0% in July and have decreased in five of the last six months, leaving them 9.3% below last summer’s prices.
