Airline Ticket Prices Are Coming Down to Earth

Domestic airline prices are on the decline in 2023, finally retreating after spiking just a year ago. International fares are still high.

A plane on US dollars with the word sale.
(Image credit: Getty Images)

After soaring in 2022, prices for domestic airline tickets are on the descent. In June 2023, airfares had dropped by 8.1% from May and by 18.9% over the previous 12 months, according to the June Consumer Price Index (CPI) report from the U.S. Bureau of Labor Statistics.

Booming supply and changing demand are the two key drivers of the decrease, says Scott Keyes, founder of Going, a website that provides airfare alerts and information. 

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Lisa Gerstner
Editor, Kiplinger Personal Finance magazine

Lisa has been the editor of Kiplinger Personal Finance since June 2023. Previously, she spent more than a decade reporting and writing for the magazine on a variety of topics, including credit, banking and retirement. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.