Travel Prices Index Increase 4.3 Percent in March
Hospitality Trends reports that the March Travel Price Index rose 4.3 percent compared to March 2005 and 2.6 percent from February 2006. Gasoline prices increased 17.0 percent from one year ago. Lodging prices were up 1.1 percent compared to March 2005 and 5.6 percent from last month. Airfares increased 6.7 percent against twelve months earlier and 1.1 percent from the previous month.
These statistics were developed by the Travel Industry Association of America's (TIA). The Travel Price Index (TPI) measures the seasonally unadjusted inflation rate of the cost of travel away from home in the United States. The TPI is based on U.S. Department of Labor price data collected for the monthly Consumer Price Index (CPI). The TPI is released monthly and is directly comparable to the CPI.
