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Travelers saw prices fall for big-ticket pieces of their vacation budgets in July, offering at least a temporary reprieve after soaring costs earlier this year.
Airfares fell nearly 8% from June to July, while prices for rental cars and lodging like hotels declined 9.5% and about 3%, respectively, according to a monthly inflation report issued Wednesday by the U.S. Department of Labor. It was the second consecutive month of price declines for each category.
“That’s really good news, I think, when people are planning out their vacations,” said Sally French, a travel expert at NerdWallet.
Airline ticket prices peaked in May this year, driven by factors like…