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Is This The Right Time to Book Your Flight? U.S. Ticket Prices Are Dropping

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Since the pandemic, travelers have been plagued with an increase in airfare as a result of many factors. From rising fuel prices to added taxes, passengers never seem to catch a break. While airlines have definitely done well the past few years in terms of growth outlook, passengers are due a win. 

According to Hopper, in May of 2022, airfare was about 18% higher than it was in 2019. For international trips, airfare skyrocketed above 22%, showing round trips for about $1,000. Unfortunately, for most of us booking these international trips, this became the norm.

However, thanks to the release of a new report, there seems to finally be a silver lining! Due to price drops within the past few months, now may be the best time to be on the lookout for cheap flights as you plan your next trip.

Is-This-The-Right-Time-to-Book-Your-flight-U.S.-Ticket-Prices-Are-Dropping

The newest federal inflation report released this week shows that between June 2022 to 2023, average flights dipped below 18.5%. Close to 19%, this is a significant decrease in prices and some hopeful statistics for avid travelers.

From March to April, flights already started dropping by 2.6%. From April to May, the decreases continued, moving up to 3%.

Between May to June of this year, flights have already decreased in price by about 8.1%. This is one of the larger month-month decreases reflected in the report thus far.

airline in flight

Keep in mind flights are flights, and not all airfares will see a considerable drop. While holiday weekends and popular routes will still see higher prices, be sure to track your routes using google flights to keep an eye on any decreases. 

If you’re a ‘go-with-the-flow’ type and are contemplating a trip in the next few months, now could be the best time to book. The popular trend of ‘last-minute deals’ is making a comeback.

people walking in airport

As we creep into the summer months, we're seeing a trend of price drops if you're looking at traveling within a few weeks to a month.

Many of these flight decreases are made with the purpose of last-minute travel in mind.

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woman looking at flight board

Depending on the day of the week and month, domestic flights within the U.S. have dipped (with some domestic routes showing round trip costs for under $100). 

Flights next week from New York to destinations such as Salt Lake City, Nashville, or Detroit are all under $200 roundtrip right now. (Cheaper than usual for this time of year, and these areas).

A roundtrip flight from Boston to New Orleans in August can be found for under $120: which hasn’t been seen in a while. If you’ve booked your summer trips with flexible booking, now could be the time to rebook at a lower fare if possible.

flight statistics

Across the pond, international flights have remained pretty steady in terms of pricing. However, the big changes have come from domestic travel within Europe. Budget airlines are the go-to this summer, with some flights costing below $50.

Keep an eye out for carriers such as Aer Lingus and Icelandair, who constantly run sales throughout the year, both domestically and internationally. If you're lucky, you may be able to snag a cheap route from the U.S. to popular European spots last minute.

view of inside of airport

While a monthly decrease of 8.1% certainly sounds promising for us jetsetters, the airfare game still comes down to luck and timing. While the new report does show overall prices dipping, it’s still important to monitor changes and track routes. 

Cheap flights are still very much alive and kicking, waiting for the right person to whip them up. The travel market is ever-changing, so now's the time to get browsing.

airline views from the sky

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This article originally appeared on TravelOffPath.com

Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.