Originally Posted by
Jaimito Cartero
If the price of the tickets are going up, the redeemable rewards, and hence the value obtained is the same.
The value in terms of flight miles is the same. The value in dollars is higher.
Your point is consistent with the idea that the cost of a new mile is higher
than the cost of an old mile, so the value of an old mile is going up.
That was the OP's point.