How to Account for Inflation in Your Travel Budget

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According to Sally French at NerdWallet, if you’re building your next vacation budget based on a 2021 trip, you should expect to pay far more now. But compared to pre-pandemic travel, some expenses might be increasing at roughly similar rates — and one major travel expense will likely cost less.

However, airfares are at record highs, and the rate of increase since 2020 and 2021 is especially shocking given how low airfares dipped in the early part of the pandemic.

The average cost of airfares in May2022 was 19% higher than the previous month and 38% higher than May 2021. What’s more, the May 2022 price is over 22% higher than the average from March 2019, which would have been the last comparable May before COVID-19-related lockdowns in the U.S.

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