The Consumer Price Index, which measures inflation by tracking the prices of everyday items, rose 8.5% in the last year–the fastest annual gain since 1981. CNBC’s senior economics reporter Steve Liesman and on-air editor Rick Santelli explain the hot inflation data, pains for consumers, and whether the Fed’s aggressive policies to combat it will result in a broader economic slowdown. Former Australian Prime Minister Kevin Rudd covers another factor that could hit inflation rates here in the U.S.: China’s Covid lockdowns. As sweeping shutdowns across the country continue, Rudd considers the impact on global supply chains and inflation around the world. Plus, Etsy sellers are on strike–virtually for a week to protest a hike in fees.

 

In this episode:

Kevin Rudd, @MrKRudd

Rick Santelli, @RickSantelli

Steve Liesman, @steveliesman

Joe Kernen, @JoeSquawk

Becky Quick, 

@BeckyQuick

Andrew Ross Sorkin, 

@andrewrsorkin

Katie Kramer, 

@Kramer_Katie

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