CHICAGO (Reuters) -Delta Air Lines CEO Ed Bastian on Thursday said travel has become the topmost priority for consumers, but capacity constraints at U.S. carriers will not let them catch up with demand for an "extended period of time," helping sustain the post-pandemic travel boom. His comments came hours after the Atlanta-based carrier lifted its full-year profit outlook for the second time in less than a month and posted the highest quarterly earnings in its history. Delta's shares were up 1.4
raving about the news. yes. 3% on an annual basis, as you pointed out, the lowest figure in quite some time. compare that to 9.1% last year, which was the peak of inflation. part of this is that, the base is very high. so we re seeing a lower figure now. on a month-over-month basis, the index rose 0.2%. we got help over the month from declines in airline fares. those prices went down. used cars, those prices went down. household furniture also going down. if you look at the chart here, this is the annual increase over the last few years. now we re at 3%. 9.1% a year ago was the peak. what a difference a year makes. let s look at some categories specifically. gas prices have really just come down quite a bit from last year, down 25% -26.5% to be clear. food prices still much higher. you re going to the grocery store and yofeel i don t know, things feel more expensive than
3%. the index increasing 3% on an annual basis. it that is better than expected and month-over-month prices increased 0.2%. that is better than expected. inflation a different story. core inflation, guys, when you strip away energy and food, it gives you a better sense of underlying inflation, that index increased 4.8%. so why is this happening? you you look at the chart, that is 1.1% in june of last year. comparing price levels now to then, you can understand that it is a smaller increase, right. so you see a lower figure now. also got some help in categories on a monthly basis airline fares, they went down, used cars, those prices went down and household furniture. on an annual basis, gasoline, remember last year when prices were $5 a gallon? gasoline prices have come down. food prices not so much. shelter prices not so much. what does this mean for the fed? when they meet in two tweaks to
off the lot. they ve got more of them now. this is the lot 18 months ago, and this is the lot now. we ve doubled our inventory in the last probably four or five months. reporter: and it s not just used cars. gasoline prices are down 26%. airline fares are down 19%, and major appliance prices are down nearly 11%. there s a lot of positives really helping to push inflation down, but i don t think it s a signal at all of a recession. reporter: markets closed higher as the rate of inflation is getting closer to the federal reserve s target of 2%, but challenges remain, in particular, for housing. the cost of shelter up nearly 8% over the last year, and just this week, a new report showed housing prices in may hit an all-time high. this as mortgage rates hover around 7%. interest rates remaining high on auto loans and credit cards too thanks in part to the federal reserve largely expected to again raise interest rates later this month. brian cheung, nbc news, new york. all right,
that s the lowest increase in more than two years and plunging from last summer s peak, when prices were 9% higher than the year before. airline fares actually falling 8%. used car prices now down. new car prices remain flat. when we come back here tonight, there is news coming in this evening of a passenger plane rocked by severe turbulence. multiple injuries. and a deadly greyhound bus crash into several tractor trailers, in a moment. ed symptoms? it may be time to see the bigger picture. heart failure and seemingly unrelated symptoms like carpal tunnel syndrome, shortness of breath, and irregular heartbeat could be something more serious called attr-cm, a rare, under-diagnosed disease that worsens over time. sound like you? call your cardiologist, and ask about attr-cm. want a smarter way to mop? introducing the new swiffer powermop. an all-in-one cleaning tool