CNBC, CNN sound alarm on inflation: 'You have to go to 1982 to find a higher number'
Fox News
Multiple news outlets, including those that are more left-leaning, responded to the stark economic news Wednesday that inflation is at its highest point in 40 years, and sounded the alarm on what it means for Americans and their wallets.
"You have to go to 1982 to find a higher number," Santelli said. The CNBC host was referring to CPI increase in January, which rose 0.6 percent, which brings the annual inflation up to 7.6 percent. This is the largest increase since February 1982, when inflation on the year hit 7.6 percent.
Santelli said that these were the numbers everyone was "most concerned" about. "We were supposed to see some alleviated pressure from the monthly read," he continued.
The CNBC host went on to say that one third of the CPI was housing and rent, noting that it was "very unlikely these rents, which have been surging, are going to be going down anytime soon."
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