New data shows that the prices for travel in January 2024 are down from last year.
Listen , debt , food , and rent might be drop a animated cartoon anvil on most US budgets properly now , but thankfully , there is one part of life story that is not cause more expensive . consort to NerdWallet ’s newTravel Price Indexthe overall cost of travel is down 1 % in January 2024 compared to the same time in 2023 .
While the overall cost are only down by one distributor point , certain sector of the travel diligence are down even more . The cost of machine rentals in 2024 are down 14.1 % compared to January 2023 , and airfare is down 6.4 % . Overall , airfare Price have put down 3 % compare to January 2020 .
Once you get to your destination , the cost of everything is n’t likely to be cheaper , however . The cost of entertainment is up 5.2 % , dining out is up 5.1 % , and hotel and motel are up 0.7 % , compare to January 2023 . Since 2020 , the ordinary damage of hotels has dramatically increased , jumping more than 17 % by January 2024 .
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Looking forward , it ’s likely we will continue to see this trend of lower traveling costs continue into 2024 . In data shared byKayak , overall airfare prices are down by 3 % for the calendar month of March , compared to March 2023 . And for April , toll are even blue . Average April airfare is down by 8 % in 2024 , compared to April 2023 .
So , while you ’ll want to keep getting crafty in regards to booking your fitting ( camping is on the rise ) , you may at least perch a picayune easier knowing that hold your next flight is n’t likely to be as expensive as it was last year .
For other tips on how to redeem money on travel in 2024 , check outThrillist ’s everlasting guide .
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