Airfare expected to rise another 10% through May

The cost of travel is projected to increase by another 10% through May. 

According to Hopper's Consumer Airfare Index Report, the national average cost of a domestic round trip will reach $360 in May. 

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Since the beginning of the year, domestic airfare has already surged by 40%, pushing the average cost of round trips to around $330, according to the report. 

That's already 7% above pre-pandemic prices. 

In fact, $330 is "the highest average domestic airfare" for round trips since Hopper started tracking the data in 2013. 

Hopper projects that the average cost for a round trip will remain around $320-$330 until the end of the month before bumping up in May. 

Comparatively, prices for international airfare are estimated to match pre-pandemic prices through May. The average cost for international round trips will eventually increase to $940 in June, marking a 15% increase from the current average of $810, according to Hopper. It's also a 5% increase from 2019 prices. 

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The increase in prices comes as an increasing number of travelers book long-waited trips for the spring and summer. Airports have already seen an influx in travelers at airports across the nation in recent months, especially as the spring break travel season ramped up. The Transportation Security Administration (TSA) said its busiest day in 2022 was March 20 when over 2.3 million passengers were screened at airports nationwide. 

Hopper projects a "demand cluster" to occur in mid-April in addition to national holidays such as Memorial Day, July 4th and Labor Day. 

Las Vegas, Nevada, in addition to Orlando, Florida, and New York City topped the list for the most booked domestic destinations, according to Hopper. 

However, demand is projected to simmer after June. At that point, "airfare should seasonally decline into the fall," Hopper said.