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It's not all bad news this year. Used cars, vacation packages and fancy laptops are all expected to cost less this year.
The key to traveling for less this year will be booking a package deal.
While airfares are expected to rise, cost-conscious travelers can save hundreds of dollars if they book their airfare and hotel together — a feature offered on most travel booking sites, said Sarah Gavin, an Expedia.com spokeswoman. For popular resort locations, like Hawaii and Mexico, savings can reach up to $1,000 for a week-long vacation.
By lumping the purchases together, hotels and airlines are able to fill vacant rooms or flights at a deeper discount, she said.
Take a 7-night trip to Cancun in April. Purchased alone, two round-trip flights from New York and a week at a four-star all-inclusive resort would run $3,643. Purchasing the trip as a package shaves off $1,440.