Consumer prices may have ticked slightly higher in July, but not for everything.
Airline fares recorded their steepest monthly decline in 20 years, falling 5.6 percent last month, according to the Bureau of Labor Statistics.
"The one thing I'm surprised about is how quickly it happened," Seth Kaplan, managing partner of Airline Weekly, told CNBC. "And as you look at future capacity it's growing even faster, so prices will likely fall even further." (Tweet This)