Tyler Schipper, an economist and associate professor in the College of Arts and Sciences at the University of St. Thomas, recently talked to The Hill about the possibility of airline costs decreasing if there is a recession.
From the story:
If we see the U.S. economy tip into an economic recession this year, that could also make travel – and other goods and services – cheaper.
“In fact, in the 2008 recession, you actually saw deflation for for a couple months where the overall price level was actually lower,” said Tyler Schipper, an associate professor of economics at the University of St. Thomas. “I think of this being particularly true for things that maybe are more luxury for a lot of households, like travel. So airline travel, for instance, you can see falls in prices around most recessions. And I suspect if we went into a recession, we would still see that again.”
