Flight price rises show signs of easing up
Average airfares are rising at a slower rate, holiday prices are flat, while the cost of holiday insurance has risen year-on-year.
The trends are revealed in the latest Consumer Prices Index (CPI), compiled by the Office for National Statistics (ONS).
Between June and July 2013, airfares rose by 13.9% year-on-year, far slower than the corresponding rise a year ago of 21.7%.
Long-haul flights and some European flights saw the slowest rate rises.
A year ago, long-haul flights were up 37.2% between June and July, while growth was slower in July 2013, with prices up 22.4%.
Foreign holiday insurance prices went up 4.3% between June and July 2013, compared with a drop of 2.4% in the same period last year.
Actual holiday prices remained flat after rising a year ago.
Overall, the CPI grew by 2.8% in the year to July 2013, slightly lower than the year to June 2013, when it measured 2.9%.
The small drop means inflation has eased slightly – although few households are likely to feel much benefit because the cost of goods and services continues to outstrip wage growth.
The ONS said the lower airfare rises, as well as discounting by fashion retailers, offset higher petrol and diesel prices.
CPI statistician Richard Campbell said: "Overall, airfares went up – that’s a pretty usual pattern getting towards the holiday season – but they went up by less than they went up a year ago and that has pushed inflation down.
"Airfares virtually always go up between June and July but the magnitude varies. Last year was one of the stronger years."
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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