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Travel Prices Are Returning To Normal This Fall
Travelers in the US can expect to see a drop in travel costs as summer ends. During the spring and summer, inflation sent the cost of airfare through the roof. Many travelers were discouraged from exploring the world due to mounting prices.
Although overall prices continued to climb in September, travel prices moderated, according to the Consumer Price Index report. While some of these trends may be seasonal, the cost of airfare, hotels and rental cars has declined all summer long.
With the US dollar gaining more strength, it won’t be surprising if travelers see more prices returning to normal as they plan fall vacations.
A Stronger Dollar
If you plan on traveling internationally this fall, the US dollar is definitely on your side depending on where you’re headed. Right now, the US dollar is strong against many foreign currencies. This won’t have a major impact on flights. But it will lower the cost of things like hotels, food, and amenities in some countries.
Keep in mind, this will only be valid in countries where the US dollar is worth more. So if you’re traveling to Mexico, you really won’t see much of a discount. However, if you’re traveling to Japan, where the yen is weaker than the US dollar, you’ll receive a 23 percent discount on all purchases made in Japan.
If you want to save money on travel this fall, research the currency exchange rate and choose to vacation in countries you’ll get the most bang for your buck.
Timing is going to play a major role in catching cheap flights this fall and winter season. During the summer, Google reported searches for “cheapest airline tickets” soared 240 percent. Travelers everywhere felt the burden of skyrocketing prices.
It’s going to be important to time out buying plane tickets this fall. According to Google Flight data, travelers find the lowest price on airfare when they book 21 to 60 days in advance. This window gets even smaller when traveling around the holiday season, with travelers finding the cheapest flights just 22 days out.
It may be wise to delay booking winter holiday flights until the date is closer. However, the price of flights will still be dictated by the pricing trends during that time.
Will Travel Costs Continue To Decline?
Some believe the decline in travel costs is only temporary. Historically, travel prices decrease during the cold months as travel slows down. However, some industries, like rental cars, remain more expensive than before the pandemic.
The falling cost of jet fuel also has many travelers believing the trend will continue. The cost of oil is falling too, making road trips more possible for travelers around the country. Whether they’re traveling internationally or domestically, Americans everywhere hope they continue to see monetary relief as prices go down on travel expenses.