Travel group says cost of travel rose in May
by July 19, 2016 10:34 am 142 views
The U.S. Travel Association has reported an uptick in its monthly reporting of the Travel Price Index (TPI) for the month of June compared to May 2016.
Developed by the U.S. Travel Association, the TPI measures the one-month change in the cost of travel away from home in the United States on a seasonally adjusted basis and the 12-month change of the cost of travel away from home in the U.S. on a seasonally unadjusted basis.
It is based on U.S. Department of Labor price data collected for the monthly Consumer Price Index (CPI) and is directly comparable to it.
Compared to May 2016 numbers, the TPI for June increased by 0.8% (seasonally-adjusted). Meanwhile, other lodging – including hotels and motels – increased by 0.6% while the prices for motor fuel increased by 3.3%, while the CPI for all urban consumers (CPI-U) increased by 0.2% over the same period.
Conversely, airline passengers received a break with fares ticking down 1.6%. The Airline Fares index is published monthly at the U.S. level and is also seasonally adjusted.
Compared to the same time last year, TPI increased by 0.5% in June 2016 on a seasonally unadjusted basis, while the CPI-U increased 1%.