Here's The Kind Of Deflation We Need More Of

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:

Carpe Diem:

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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