standing in the grocery store, airline fares, and jet fuel prices and inflation and the high prices of the goods are outpacing wages in this country. and this has been the story for months now, katie. this latest report showed wages up 5.1%. that s year over year, the average hourly earnings. so this is not keeping pace with inflation. katie: compared to the inflation number, wage growth at a negative 3.6%, which means inflation is outpacing people s paychecks, certainly outpacing their paychecks and the problem for president biden, and democrats going forward, no solutions to the current economic environment that are not painful. inflation, of course, is very painful. fed gets more involved to raise rates even further, money is more expensive for people to borrow, means things like the housing market will slow more,
not the increasing in food or gas for people, where people have to pay that to live their life but when you look at inflation in the latest reports that we ve seen, we saw airline fares up 38% year over year, hotels up 22% year over year. for those who are look together summer, they want to have a good time, they say they re still going to go ahead and do those trips, you re seeing them find ways to adjust, and that adjustment is having an impact on the industry, peter. among those, trying to make last-minute plans for family across the country, i have to tell you, it is not pretty as you prepare to bring a wife and two kids on a trek like that. a gorgeous day there for father s day, temperatures in the 60s and 70s. appreciate you being with us. this morning, another encouraging step for parents anxious to get their small children vaccinated, the fda just announced that it is authorizing use of both the pfizer and the moderna covid-19 vaccines for young children. according to the f
over the memorial day weekend. more if you count the global amount of cancellations. florida and new york, you had weather and staffing shortages due to covid and other issues, travelers are frustrated. as soon as we got here, we got the e-mail our flight was cancelled. apparently, we had inclement weather and i arrived in atlanta 3:00 a.m. in the morning. cheryl: airline fares are higher with average round trip jumped up 34% from the same period in 2019. deta announcing service reduction from july 1 to august 7, industry officials explain the challenges ahead for the airlines. a lot of it is post-pandemic, so many workers in the u.s. disappeared from the labor force, for pilots, there is a pilot shortage we are fighting,
also how they are going to be food on the table. we follows economic plans they are disastrous for our country. they empower china primarily part also look at food and food prices are for the reasons food prices are up is because fertilizer is a derivative of oil production. you get fertilizer from oil pretty do not get a firm windmills who do not get up from solar panels. this is terrible economic policy per you are correct is going to hurt us on the world stage not help us. this a transition he thanks is great is cool for him and his family while they are making millions of dollars in deals all over the world. what about the mom and pop who are literally making what are the thousand dollars a year end they ve got three kids to feed? it does not work for them this is not a glorious transition for them too. maybe not a hundred grand a year to 60 grand a year is not just high gas prices are things costing more these days groceries, used cars, airline fares, electricity all in double d