Travel prices are climbing more than twice as fast as overall inflation, and higher fuel costs are doing most of the damage.
The U.S. Travel Association’s (USTA) Travel Price Index (TPI)—similar to the federal government’s Consumer Price Index (CPI), but focused on prices paid for travel—rose 2.1 percent in September and was up 8.7 percent year to date.
“Travel price growth continued to outpace the broader economy, with the TPI’s annual increase more than doubling that of the overall CPI,” according to the report. “Reflecting the broader economic index, rising gas prices were the primary driver of the monthly TPI increase, though lodging and airfares also moved higher.”
Energy costs rose 5.2 percent last month and have risen 20.4 percent since September 2025. Gasoline prices were a major driver of the increase, up 9.1 percent month over month and 34.9 percent year-over-year.
The TPI rose in September after declining for two straight months. Airline ticket prices increased 1.2 percent and were up 22.4 percent since September 2025 and 20.2 percent higher than in (pre-pandemic) 2019.
Lodging prices increased 2.3 percent and sat 4.3 percent above the year prior and 14.5 percent above 2019 levels. Recreation prices rose 1.3 percent.
The USTA noted, however, that most major pricing in the travel sector was lower than 2019 when adjusted for inflation, other than energy costs.
According to the CPI, overall consumer prices rose 0.6 percent in September after increasing 0.4 percent in August. The year-over-year increase in the CPI was 3.7 percent.
The USTA’s TPI tracks with other, similar analyses, including NerdWallet’s Travel Price Index, which reported on Oct. 14 that travel prices were 9 percent higher in 2026 than 2025. The NerdWallet report looked at the cost of lodging, airfare and car rentals, but not energy costs.
“Traveling remains more expensive compared to a year ago, as high airfares continue to drive increased travel costs,” according to NerdWallet. Higher prices for jet fuel have contributed to airlines’ decisions to raise airfares.
Both reports are based on data from the U.S. Bureau of Labor Statistics.
Our Take
Savvy advisors know that rising energy prices are a reason to book now, not wait. Airfare is a huge pressure point, and an issued ticket locks in today’s fare. This is also the moment to steer clients toward all-inclusives, tours and packages with fixed costs paid up front. Plus, with drive-market clients having to budget more for road trips than last year, it may even be worth pricing out a fly-and-stay package for comparison.
