Import air passenger fares fell 4.2 percent over the year ended in December 2023

Import air passenger fares fell 4.2 percent over the year ended in December 2023, due in part to a 0.9-percent decrease in European fares, a 4.0-percent decrease in Asian fares, and an 11.0-percent decrease in Latin American/Caribbean fares.

From December 2022 to December 2023, export air passenger fares fell 5.3 percent. Decreases in air passenger fares from Europe (−4.3 percent), Asia (−5.8 percent), and Latin America/Caribbean (−7.1 percent) on U.S. carriers contributed to the decline.

Import air freight prices decreased 4.6 percent from December 2022 to December 2023, as a 30.6-percent decline in prices on European carriers more than offset a 6.5-percent rise in prices on Asian carriers.

Export air freight prices fell 12.9 percent for the year ended December 2023. Decreases in export air freight prices to Europe (−15.8 percent) and Asia (−10.5 percent) contributed to the drop.

These data are from the International Price program. To learn more, see "U.S. Import and Export Prices — December 2023." 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. Data may be revised in each of the 3 months after original publication.