Budget domestic airfares are up 34% for this summer compared with the summer of 2019, according to an analysis by the price-predicting and booking app Hopper.
Hotel prices, meanwhile, are up 36% compared with 2019.
"Americans who haven't booked travel since summer 2019 are in for a shock this summer, with domestic airfare for summer travel averaging $383 roundtrip," wrote Hopper economist Hayley Berg in a report released Tuesday.
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Hopper defines budget fares as the lowest 10% of the fare quotes it tracks.
Budget fares will continue to rise seasonally through June, Berg predicted, topping out at between $410 and $420.
Ballooning fuel prices, strong travel demand and reduced airline capacity relative to 2019 are all factors in the high prices. Airlines, Hopper said, are scheduled to fly approximately 2.4 million travelers per day this summer, compared to an average of 2.9 million passengers per day over the summer months of 2019.
Modest rise in international fares
The airfare increase is far less pronounced for international travel, however, with an average roundtrip price for summer of $912, up just 2.5% over 2019.
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Hotel rooms, said Hopper, are now averaging $154 per night. Car rentals for summer are costing approximately $60 per day, which is similar to last year, when diminished rental car inventories drove a price surge.