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us? >> they tell the economy was strong at the end of the year, and the price problem is not fully vanquished yet. when you look at how prices have come down from 9.1%, the annual inflation rate in december of 2022, that is why inflation is issue number one for so many families. now you're down to 3.4%. in november, it was 3.1%. there has been real steady progress but this was a little hotter than expected. it shows you that progress isn't defined and perfect. this is a bump in the road there. a lot of people expect inflation to continue to come under control in 2024, but when you look at food, when you look at gas prices, shelter. shelter was half of the gain overall in inflation here was those shelter prices. we have more work to do, and i think what it means for so many people who are starting to feel better about what is a decent economy, it just shows you there is still more work to be done.
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
coming down, and another headline coming down at 6% annually is matching what economists have said, and we have not been able to do that much in the last year, and so that is excluding the volatile categories like food and energy, but when you are looking under the hood, you will see the bit of concerning sign, and food prices are higher by 9.5%, and looking at the shelter price, and these are essential categories, and shelter prices are up 8.5% on an annual basis, and shelter prices were the largest contributor to rise that we saw in inflation, and so still some concerning signs, but essentially, we are seeing that inflation is cooling in a gradual way, and as if you are turning off the oven at home after you cook something, and you can't snap your fingers and it is automatically going to cool cool, and it will take some
for a year now released for today. christine romans is here. she has the numbers. it eased a little bit? >> 6% year over year inflation. that's way above the fed's target of 2%, but for eight months in a row this number has been a little bit smaller than the month before. so 6%, 6.4% last month and month-over-month 0.4% increase in prices. these are consumer prices. this is what you pay, folks. remember last month was a shock because it was half a percent and people were very concerned about, you know, reinflaming inflation here. when you look at where we're seeing these price changes, gas prices went down a little bit year year over year. food prices up 9.5% and shelter prices up 8%. the government saying 70% of the increase overall in inflation was shelter alone. so this is a rent and a housing problem in terms of prices. you had that gabe cohen piece about kids graduating from
shy about trying to say what is going to happen next with inflation. for now, energy prices down, shelter prices are still up, so people, you know, looking at rent and housing, that's a hot spot in the economy. but overall, cooling, too high, but cooling. >> good but bad. >> yes. >> good but bad. >> less bad. we'll take it. >> good but less bad. >> christine romans, thank you for that. >> you're welcome. united airlines just placed an order for up to 200 boeing planes this morning. united calls this the largest wide body aircraft order ever by a u.s. carrier in commercial aviation history. what does this tell us about the state of our economy? where is that recession so many are fearing? the ceo joins us from boeing, scott kirby. good morning, sir. it is good to have you. >> good morning. pleasure to be here. >> what should we make of this? these are big planes, largely
paraphrase. there was lack of a message from the senate. >> it is a candidate quality issue. we nominated a bunch of people the voters rejected in a lot of these senate races. we have a situation and we have the worst inflation in 40 years, worst decline in real wages in four decades. worst crime wave since the 1990s. worst border crisis and worst gas and food prices since 1979. worst increase in shelter prices since 1984. worst labor shortage in american history tornado joe biden is the least popular president going back to harry truman. voters looked at joe biden and then they looked at the republican party and said no thanks. and we need to do some introspection why that happened. the answer to the question is in florida. the answer to the question is what worked last night? >> dana: can it be replicated in other places? >> nationally if you pick the right person. the voters looked at us and said
core inflation. month-over-month core inflation 4.6% matches what we saw in august. you can see how it's off the worst levels that we've seen earlier this year. maybe showing signs of turning or peaking. that's what everybody wants to know. but what you are feeling year over year, gasoline prices up more than 18% from last year, food prices still up 11%, and shelter -- shelter prices have been rising. this is the part of the economy you can't quickly change. you can go to different store brands or you can shop differently and switch out your cuts of meat, if you're a shopper for your grocery bill. much different when you talk about your housing costs. rising prices have been so punishing for so long, the cost of living adjustments for social security recipients next year will be 8.7%. the 70 million people who receive a social security check or those sorts of ben facilities, starting in january
audience, everyone watching right now has seen the price of goods increasing. for the month of february, it increased 8% year over year, driven largely by food prices, gas prices, and energy, shelter prices, food, for example, milk went up 50 cents, and the concerning factor is that you have gas prices just continuing to store, of course you've got the issues in ukraine that are weighing heavily, sanctions weighing heavily, and this is a part of the fact of why we're seeing volatility in the markets as of late. you have concerns about growth, you have concerns about inflation, you have concerns that the fed, our central bank will increase interest rates as of next week. all of these are factors playing into it. the only thing i can say from this report is core inflation, when you take out food and gas, which is pretty volatile, core inflation came in line with expectations. some economists may say this report is as expected. >> cold comfort if you have to
increase in each of the previous three months. year-over-year, those prices up a staggering 41.7%. housing prices showing no signs of cooling either. the cpi reported that shelter prices up to .8% last year but crisis for housing in major cities spike 18.6%. that according to a biggest increase since 1987. in as i send it back to you, we will get updated inflation numbers next tuesday but i don't have to tell you that the prices are only expected to go higher. >> edward: might have to stock up on my doughnuts. i wonder how long they will stay in the freezer. so how about this for; your stocking? could put a major damper on the holiday shopping season to keep people from buying and keeping