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According to the U.S. Bureau of Transportation Statistics, the average domestic airfare for flights originating at Chicago-O'Hare was $389 in 1993 and $209 in 2020.
According to the U.S. Bureau of Transportation Statistics, the average domestic airfare for flights originating at Chicago-O'Hare was $389 in 1993 and $209 in 2020. If the 1993 average airfare had increased according to the CPI, what would the average fare have been in 2020? Does this mean that airfares rose more or less than expected due to inflation. CPI in 1993 was 144.5 and CPI in 2020 was 258.8. What was the relative change in the average airfare between 1993 and 2020? What was the relative change in the CPI between 1993 and 2020
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