"Airfares are certainly the canary in the coal mine. No other major consumer good or service I can think of is as sensitive to energy costs."
"The average price of a flight from one end of the United States to the other rose from $167 in February to $414 in mid-March."
"The Hong Kong-London route is 560 percent more expensive than it was last month, and the Bangkok-Frankfurt route is up 505 percent."
"The energy shock could have broad implications for the prices of all kinds of consumer goods, including clothing, food, and computers."
Airfare has increased sharply since the onset of the war in Iran, with domestic flight prices rising from $167 to $414. International routes have seen even steeper increases, such as the Hong Kong-London route, which is up 560 percent. The average gas price in the U.S. has also risen from $2.98 to $3.98 per gallon. These changes indicate broader economic implications, affecting various consumer goods. Airfares are seen as an early indicator of the economic impact of rising energy costs.
Read at The Atlantic
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