Air travel costs soar at record rate in Decemberon January 18, 2023 at 11:33 am

The price of air fares soared at a record rate in December while the cost of coach travel jumped, according to new data.

Plane fares rose by 44%.1, at the fastest pace since the late 1980s, said the Office for National Statistics.

It was the first December since 2019 when people could travel to many long-haul destinations without Covid restrictions.

Meanwhile rail strikes may have fuelled demand – and higher fares – on coaches.

The price of coach travel rose by 17.5% in December compared to the same month in the previous year.

Higher transport costs contributed to the overall inflation rate which grew 10.5% in December. While the pace of inflation slowed compared to November, price rises are still running at close to a 40-year high.

Airlines are trying to recoup losses resulting from coronavirus travel restrictions and people appear to be willing to spend more on holidays, despite the rising cost of living.

Advantage Travel Partnership told the BBC that the average spending per holiday was £3,104 in early January, up 5% on the previous year.