Airfares, hotel rates and rental car prices fell in July. Here’s how you can score a good deal
Fluxfactory | E+ | Getty Images 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 elevated consumer demand coming out the Covid-19 pandemic and operational issues for airlines such as high jet-fuel costs and staffing shortages, which led companies to pare back flight schedules, according to experts. More from Personal Finance: Inflation Reduction Act extends $7,500 tax...