Have flights gotten cheaper over time?

The airfare component of the consumer price index fell by 8% month-on-month in June, and a whopping 19% year-on-year. Why it matters: The massive spike in airfares that we saw in the spring of 2022 really does seem to have been transitory.



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Timing plays an important part. Specifically, plane tickets usually don't get cheaper closer to the departure date. Instead, flights tend to be the most inexpensive when you book between four months and three weeks before your departure date.

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Average ticket prices have been steadily decreasing since 1980. In fact, tickets are close to their lowest prices ever. But from 1950 to 1980, flying was different. Before 1978, fares and routes in the US were closely regulated by the federal government, and many routes had fixed minimum prices.

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But falling fares in the 1970s allowed many more people to fly and undermined the exclusivity of jet travel. Sweeping cultural changes in the 1960s and 1970s reshaped the airline industry. More people began to fly, and air travel became less exclusive. Between 1955 and 1972, passenger numbers more than quadrupled.

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Average U.S. airfares are more than 5% lower in August 2023 than they were in August 2019, meaning prices aren't just lower than they were last year, but even lower than what they were pre-pandemic. August 2023 vs. July 2023 (MoM). Down 2.8%.

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Tuesdays and Wednesdays are the cheapest days to fly domestically. The cheapest days to depart if you're flying within the U.S. are midweek — generally Tuesday or Wednesday. For economy tickets, Tuesdays are about 24% lower than peak prices on Sundays, which translates to savings of about $85 per ticket.

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Tuesday Around Midnight is the Cheapest Time to Book
In general, flights were slightly cheaper at midnight earlier in the week (Monday through Wednesday). However, this is only applicable to about 1.6% of U.S. markets, meaning that it's not likely you'll find the same savings on your specific route.

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Timing plays an important part. Specifically, plane tickets usually don't get cheaper closer to the departure date. Instead, flights tend to be the most inexpensive when you book between four months and three weeks before your departure date.

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Is there a cheapest month to fly? If you're looking for a bargain month to travel, February is your best bet. Flights in January closely follow February for being most affordable.

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Time your booking right
“For domestic flights, if you're talking peak season, it's about three to seven months in advance,” he says. “For international flights — [it's] four to 10 months.”

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How often do airlines update airfare information online? The airlines update fare information 3 times a day. They do not necessarily change airfare prices all three times, but they certainly can, and often do.

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The cheapest months to travel are:
  • November – early December.
  • Late January – March.


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Instead, try traveling during the shoulder season. It's often much cheaper to travel from May to early June and September through mid-October. The weather is still relatively warm during the shoulder season, and you'll beat the crazy summer crowds. This is when we find the best international flight deals!

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Those who buy on Sunday instead of Friday (the most expensive day to shop for plane tickets) will save on average 17% on domestic flights and 24% on international ones.

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