Travel Services Inflation Lower Than General Inflation: How a $50 Service Fee Has Changed Since 2019

Over the past five years, from October 2019 to October 2024, prices for travel services (which includes travel agency and advisor service fees) in Canada have increased by 11.5%. In contrast, overall prices in the economy (general inflation) rose by 18.5% during the same period. This means that while most goods and services became significantly more expensive, travel services saw a smaller price increase.

If a travel agency charged a $50 service fee in October 2019, adjusting it according to the travel services inflation rate would raise the fee to $55.75 in October 2024 (an 11.5% increase). However, if adjusted based on general inflation, the fee would be $59.25 (an 18.5% increase). This shows that costs specific to the travel industry have risen less than overall costs in the economy.

2024-11-21 12:47:35