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TIA Reports: Travel Prices Increase 7.5 Percent in May
TIA Reports: Travel Prices Increase 7.5 Percent in May
| Washington,
DC � June 2006 � The May Travel Price Index, was slightly higher (0.8%)
than previous month, but 7.5 percent higher than May 2005. Gasoline prices
hit a record high in May, up more than 33 percent from May of last year.
Lodging prices were up 4.5 percent compared to May 2005. Airfares increased
5.1 percent against twelve months earlier and 2.6 percent from previous
month. The Consumer Price Index, or CPI-U, was up 0.5 percent from previous
month and 4.2 percent from May 2005.
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 (linked here) and is directly comparable to the CPI. Economic Research: Travel Price Index � May 2006 Base Year For Index: 1982-84 = 100 Sources: Travel Industry Association of America and U.S. Department of Labor | TIA (www.tia.org) is the national, non-profit organization representing all components of the $645 billion travel industry. TIA�s mission is to represent the whole of the U.S. travel industry to promote and facilitate increased travel to and within the United States. | Contact: Cathy Keefe (Manager, Media Relations) 202-408-2183 ckeefe@tia.org , www.tia.org |
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