Despite the horrors of modern air travel, especially within the U.S., ticket prices have actually been fallen beautifully. This is the good kind of deflation:
There’s been a lot of complaints lately about air travel because of crowded planes, fees for checked luggage, security lines, etc., and there’s a lot of nostalgia for the good old days of free food, no extra fees for baggage or anything else, half-empty planes where you could often get 2 or 3 seats to yourself, no security issues, etc. But I don’t think anybody is too nostalgic for the airfares of yesteryear, which were 66% higher in 1993 at an average ticket price of $541 (in 2010 dollars) compared to today’s average air fare of only $326.
“The average airfare dropped by more than one-third between 1977 and 1992 (adjusting for inflation). That would mean that the average airfare in the late 1970s was around $800 (in today’s dollars).
This equates to nearly a 40% drop since 1993, and nearly a 60% drop (this figure is inflation-adjusted) since the late 1970s. Air travel is indeed cheap, especially relative to so many other expenses these days.
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