Originally Posted by
sethb
In 1969/70, a round trip NYC-HNL-BOS cost $500. In 2000, NYC-HNL-NYC cost $500. Now it's about $635.
But the coach seat and service of that first flight is more similar to first class now.
Thus were paying a whole lot less for airfare. It would cost thousands of today's dollars if priced to that 1969 standard.
This is what people seem to miss with miles. They're just like currency, their value has to change due to inflation. What cost 500 miles one year will cost more miles the next. However till recently award levels have basically held steady. I think they may have swung a bit to far correcting, but they did need to catch up.