Travel enthusiasts got some good news from the federal government’s latest inflation report, as prices for three major travel categories showed monthly declines in June — including airfares and hotels. On an annual basis, however, travel costs have risen sharply.

                By                    Vance Cariaga

See: Consumer Price Index Reaches 9.1% With Gas, Rent & Cereal Seeing Highest IncreasesFind Out: How Much More Did Gas & Electric Cost You in June?

The overall Consumer Price Index for June 2022 increased 1.3% from the previous month on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported Wednesday. Year-over-year, inflation rose a whopping 9.1%.

But travel categories were among the few major component indexes that showed monthly decreases. The June index for airline fares fell 1.8% from May after posting double-digit gains the previous two months. Year-over-year, airline fares in June rose 34%.

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The index for lodging away from home declined 2.8% in June on a month-over-month basis, ending a run of two straight months of increases. Year-over-year, the index rose 10% in June.

The car and truck rental index for June fell 2.2% on a monthly basis following several months of increases. Year-over-year, the index is up 7.7%.

The one travel index that showed a big monthly gain in June was gasoline, which rose 11.2% vs. the previous month and 60% year-over-year. There’s good news on that front, however: Gas prices have been on a recent decline since hitting a record high in mid-June.

The national average for gas is $4.631 a gallon as of July 13, according to AAA. That’s down from $4.779 a week ago and $5.014 a month ago. Gas prices have been on a downward trend recently because of a slumping oil market, which has seen diminishing demand amid fears of a global recession.

Meanwhile, travelers who don’t mind being out on the ocean can find some good deals on cruise lines right now.

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