Travel Price Index

The Travel Price Index (TPI) measures the cost of travel away from home in the United States. It is based on the U.S. Department of Labor price data collected for the monthly Consumer Price Index (CPI). The TPI is released monthly and is comparable to the CPI. 

Our view: April 2025 data shows that for both travel-related items and the overall economy, inflation remained largely in check for the month. Overall CPI increased by 0.2% on a seasonally adjusted basis and is up 2.3% compared to the same month last year. The TPI decreased by 0.1% in April and was nearly 1% lower than the same period last year. All travel price components—except food away from home—reflected the same or lower inflation during the month than the overall CPI. 

Airline fares fell for the third consecutive month and are almost 8% lower than at the same time last year. Hotel prices also fell for the second month in a row, down 0.2% and 2.4% lower than the previous year. Energy prices have also declined, and gas is almost 12% cheaper than it was last year—contributing to AAA's record 38 million projected auto trips for this Memorial Day weekend. In both the short and long term, prices of travel-related goods and services remain attractive to consumers and have increased at a slower rate than the broader economy.

Additional insight on travel and economic indicators are available with the U.S. Travel Insights Dashboard.