In a Shocker, It’s Been an Historic Summer for Plunging Airfares
Photo Caption: Travelers at Chicago O'Hare International Airport. Nick Harris / Flickr
Skift Take
Reduced airfares are great for consumers, but it's still unclear how much travelers are seeing in the lower fares that the Bureau of Labor Statistics' data suggest are out there.
Most major U.S. airlines went on the record earlier this year with their desire to constrain capacity growth in order to maintain the price of airfares.
But new data from the Bureau of Labor Statistics' July 2015 Consumer Price Index (CPI) show that airfares have dropped 5.6 percent year-over-year in July 2015, the largest one month decline since December 1995 -- nearly 20 years ago.
Fares fell 0.2 percent i
