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Import air passenger fares rose 6.2 percent for the year ended in June 2023

July 20, 2023

Import air passenger fares rose 6.2 percent for the year ended in June 2023, due in part to a 13.0-percent increase in European fares and a 2.9-percent increase in Latin American/Caribbean fares. Export air passenger fares advanced 4.2 percent over the past 12 months.

12-month percent changes for air passenger fares, June 2023
Air passenger fare Percent change

Import Air Passenger Fares

6.2

Europe

13.0

Asia

-8.0

Latin America/Caribbean

2.9

Export Air Passenger Fares

4.2

Europe

15.1

Asia

5.9

Latin America/Caribbean

2.8

Import air freight prices decreased 33.8 percent from June 2022 to June 2023. All regions within the import air freight category declined year-over-year, with prices of Asian carriers falling 36.8 percent and prices at European carriers falling 26.6 percent. Inbound air freight prices fell 36.0 percent, while outbound air freight prices declined 22.4 percent for the year ended in June.

12-month percent changes for air freight, June 2023
Air freight Percent change

Import Air Freight

-33.8

Europe

-26.6

Asia

-36.8

Export Air Freight

-19.0

Europe

-19.9

Asia

-21.9

Inbound Air Freight

-36.0

Europe

-19.0

Asia

-45.2

Outbound Air Freight

-22.4

Europe

-16.7

Asia

-25.8

These data are from the International Price program. To learn more, see "U.S. Import and Export Prices — June 2023." Import air transportation price data measure payments to foreign carriers by U.S. residents for international air transportation services. Export air transportation price data measure payments to U.S. carriers by foreign residents for international air transportation. Data may be revised in each of the 3 months after original publication. We also have more charts on import and export price trends, as well as fact sheets that explain more about measuring price changes for air passenger fares and air freight.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Import air passenger fares rose 6.2 percent for the year ended in June 2023 at https://www.bls.gov/opub/ted/2023/import-air-passenger-fares-rose-6-2-percent-for-the-year-ended-in-june-2023.htm (visited July 25, 2024).

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