Travel Price Index

The Travel Price Index (TPI) tracks the cost of travel in the United States using U.S. Department of Labor data from the monthly Consumer Price Index (CPI). Released monthly, the TPI is comparable to the CPI while focusing on travel-related expenses. 

July 2025 Overview:

U.S. prices edged higher in July, but travel prices remained lower than a year ago for the sixth month in a row.
•    Overall CPI grew at the same 2.7% annual rate in July as compared to June.
•    U.S. Travel’s TPI decreased on both a monthly (-0.1%) and year-over-year (-0.5%) basis and continue to undercut the overall trend.

In July, TPI components showed more volatility between categories than previous months.
•    Airfares grew 4.0% marking the first monthly price increase for the category since January.  However, airfares are still only 0.7% higher than the same time last year. On a longer term basis, airfares are still below pre-pandemic levels of 2019.
•    Hotel prices fell for the 5th consecutive month, down 1.3% in July and 4.8% below July 2024 levels.
•    Gas prices fell 2.0% in July and have decreased in five of the last six months, leaving them 9.3% below last summer’s prices.

Prices for recreation (+0.8%) and food and beverage away from home (+0.3%) rose in July, outpacing overall inflation. Over the longer term, they remain the only travel categories with price growth exceeding the broader economy.
 

Explore additional data and insights via the U.S. Travel Insights Dashboard.