Airfares rose in March, according to newly released Consumer Price Index figures, as airlines took pricing measures to counter the surge in jet fuel costs.
However, the increase of 2.7%, adjusted to account for normal seasonal price changes, wasn’t dramatic.
Still, airfares in March were 14.9% higher than a year earlier, when airlines were cutting prices in response to flagging consumer confidence and demand.
March was the third consecutive month in which airfares increased, once adjusted for seasonality.
Fares were up 6.5% between December and January, and 1.4% between January and February.
Airlines, impacted by fuel prices that are up nearly $2 per gallon since the start of the Iran war, have begun dialing back flying plans to spur higher ticket prices. JetBlue, United, Delta, American, Alaska, Hawaiian and Southwest have also increased checked bag fees over the past two weeks.