U.S. consumer prices increased 8.5% in March from the year prior — the highest annual ascent seen since 1981, according to the latest Consumer Price Index figures released Tuesday by the Bureau of Labor Statistics. However, two segments that will heavily affect travelers — fuel and hotels — saw price surges well above the national average.
Hotel prices are up 29% from a year ago, bested only by a 70% increase in fuel oil, a 48% increase in gas prices and a 35% increase in the price of used cars. Airfare price increases, at 24%, came in just below the hotel sector.