Domestic airfare to drop by almost 40 percent this fall

New data showed that travelers are in for some relief as domestic airline fares are expected to drop by as much as 40 percent in the coming months.

According to ABCNews.com, travel booking platform Hopper is forecasting round-trip domestic airfare will drop by an estimated 38 percent from its peak summer prices in September and October.

Prices for round-trip domestic flights are expected to cost around $238, which is down $142 compared to average summer fares. Hopper experts said travelers should book domestic trips at least three weeks in advance to avoid last-minute price surges.

As for international travelers looking to take advantage of COVID-related restrictions being removed or eased, data shows airfare prices are expected to drop by around 19 percent.

When planning international vacations, Hopper suggests travelers book at least one month in advance and consider mid-week flights and hotel stays to save money compared to weekend bookings.

Last month, the U.S. Bureau of Labor Statistics (BLS) released its Consumer Price Index (CPI) report, which showed airfare prices were one of the few areas to decline during a period when inflation soared more steeply than it has in four decades.