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How to Beat the Summer Airfare Hike: A CBS This Morning Report

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Airfares rose three times this year and as we head into the summer travel season, experts are anticipating another 3 percent jump.

There are two main forces driving the fare hike besides the seasonal increase in fuel: With fewer planes and fewer routes, decreased capacity is a key factor, which will only be exacerbated if the rumored US Airways and American Airlines merger happens; taxes are also raising costs on international travel.

On CBS This Morning, Peter broke down main factors in the fare increase in order and show travelers what they can still do to cut costs with their summer travel.

Keep reading to see Peter’s tips for keeping costs down when you fly this summer.