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| Photo Credit: AP. |
Airfares across the United States dipped after a government inflation report Wednesday showed prices of goods easing while gasoline dropped to under $4 per gallon.
The government
said Wednesday that the price of the average airline ticket dropped 7.8% in
July, to $311, after a 1.8% dip in June, The Associated Press reports.
July’s
average ticket was still 27.7% higher than in July of last year.
Airline
fares soared in May when sales for summer vacations were high.
The price of
gasoline has dropped about one=fourth since late April, according to The
Associated Press. Airfares tend to fall in late summer and early autumn when
vacation ends and kids return to school.
How has the cost of airfares in the U.S. changed?
The
Associated Press reported that travel-data researcher Hopper expects domestic
U.S. fares to average $286 in August and remain at or below $300 until October,
when many people book Thanksgiving and Christmas travel, and demand begins to
push prices back up.
How much has the price for gasoline fallen?
U.S gas
prices Thursday fell below $4 a gallon for the first time in over 5 months, an
indication that the country’s inflation may be easing.
According to
AAA, the national average price for gasoline dropped to $3.99 per gallon but is
still 80 cents height, Washington Examiner reports.
In June gas
prices reached a peak of $5.02 per gallon just as U.S. inflation soared.
The
Associated press reported that prices have dropped 15 cents in the past week
and 68 cents in the last month, according to AAA.
The shopping
app GasBuddy reported that the national average was already down to $3.98 on
Wednesday, according to The Associated Press.