Record travel expected this Labor Day weekend, despite inflation

A record number of people are expected to travel this Labor Day weekend and while inflation is still having an impact on some good, travelers are catching a bit of a break this weekend.

According to NerdWallet's Travel Price Index, the overall cost of travel is down one percent from the same time last year, but that is still up nine percent compared to before the pandemic.

"It's insane we paid, coming from New York to Dallas, over $1,000 apiece for roundtrip," said Paulette Fenner.

While airfare is down from a year ago, for consumers saddled with inflation on every other side, it doesn't feel like much of a break.

"It's cheaper to fly international than it isdomestic, for what we paid for that air ticket. We could have gone to the Carribbean and had an all-inclusive, and the fare would have been included for couple hundred more dollars would have stayed 5 days. We're only staying until Monday."

Even so, people are spending the money anyway.

"It hasn't stopped me from making the trip," said traveler Alex Adamson.

"We just learned today that today will be the busiest day with a projection 3 million travelers plus nationwide. Here at DFW, we are expecting a 10 percent increase from last year. That is very significant," said Patricia Mancha, with the TSA.

SMU economist Mike Davis says it is an interesting time right now, because what people say and what people do are not matching up.

"They're buying stuff, and they're certainly traveling, but when you ask people, they say, no, we're really worried about the economy. But their consumption patterns, they're behaving like people who are just thinking the world is great," said Davis.

While $2.75 a gallon for gas is a welcome break at the pump, it doesn't make up for the increase in price elsewhere.

"As a single person, I feel like it is hard to buy food for one person," said Richardson resident Diana Truong who is planning to travel to Austin this weekend.

J.R. Simons builds fences and is not going to be among those traveling this weekend.

"Staying home, can't afford to do nothing," he said. "Electricity and groceries is really hitting home."

While airfare, gasoline and hotel prices are all down compared with a year ago, going out to eat or going to the movies this weekend is going to cost you about four percent more than last year.