Airfares dropping. Here’s why they could go even lower in 2024

Inflation has hit most of the economy, but that’s hardly the case with airfare. Not only are airfares down 6 percent year-over-year based on January 2024 prices, but they’re even down 15 percent versus a decade ago.

That’s according to consumer price index data from the U.S. Bureau of Labor Statistics published in February. Some experts predict airfares to international destinations will drop even lower in 2024.

According to the American Express Global Business Travel Air Monitor 2024 report, prices on certain international routes may drop by as much as 12 percent.

Here’s how AmEx GBT anticipates average economy airfares will change in 2024 versus 2023, for a sampling of regions…

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