Airfare Prices Fell Again Last Month, Expected to Continue Dropping Into Autumn

Airfares were down again last month, and they are likely to continue falling through autumn.

Now before we pull a hamstring jumping for joy, let’s temper this news with the realities of the calendar. Most families take their vacations early in the summer, right after school lets out in late May or mid-June, and especially around the Fourth of July holiday. Many families with college-aged children are sending them off to campuses around the country, while others have already elementary, middle, and high schools in many parts of the country.

That said, it is still encouraging news to learn that airfares have dropped. According to CBS News, using data from the Department of Labor, airfares fell 7.8 percent in the month of July compared to June. That was on top of a modest 1.8 percent decrease in June from a peak in May.

And if you’re thinking about traveling by plane in the next two months, this is your moment to book flights.

“If you’re looking for a deal on airfare, now is the sweet spot,” Haley Berg, lead economist for the travel website Hopper, told CBS News.

Berg said that buying a domestic ticket for September and October flights will cost an average of $238, which would be about 37 percent less expensive than the peak in May.

Berg did caution however that it’s a short window – prices, she said, will rise again in November as the holiday season arrives.

“Though prices have fallen from the peak earlier this summer, well over $400, they are still relatively high,” Berg said. “Prices will probably drop a little bit between now and the middle of October. You will want to book your holiday travel by that second week of October.”