Cost of U.S. flights around the Thanksgiving holiday is up roughly 25% compared with last year, booking data shows.
Inflation could dash some of the holiday cheer for many Americans who plan on traveling for the season.
Surging gas, airfare and hotel costs are making travelers especially budget-conscious, according to a new survey from Bankrate. Americans said they plan to travel shorter distances, spend fewer days out of town and engage in fewer activities that cost money. More people are also planning to drive to their destination instead of flying, while others are planning to use credit card points to book trips, the personal finance site found.
Travel costs are up sharply compared to last year. Lodging away from home, which includes hotel stays, was up 4% in August from a year ago,to the Consumer Price Index. Gasoline rose 26% during that same period, and airline fares jumped 28%, inflation data shows. The days between November 24 and January 1 are the busiest times for domestic travel. The price of plane tickets and hotel stays during the holidays are expected to continue growing, with airfares reaching some of their highest points in the past five years, according to travel booking app
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