Travel price growth slows amid cooling inflation
According to the U.S. Travel Association's Travel Price Index, lodging prices rose 2% in August from the previous month
Lodging prices continued to rise in August, up 2% from July, according to the U.S. Travel Association. Despite this month-over-month increase, lodging prices are still significantly higher - up 15.1% - compared to 2019 levels.
Key takeaways
- In August, travel-related goods and services experienced slower price growth compared to other sectors of the economy, according to the U.S. Travel Association;
- The U.S. Travel Association's travel price index rose just 0.9% year-over-year in August, compared to a 2.5% increase in the Bureau of Labor Statistics' consumer price index;
- On a year-over-year basis, lodging costs rose 1.8% in August, a rebound from June, when hotel and motel prices fell.
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