CNBC’s Rick Santelli on Soaring Inflation: ‘7.5% ... Have To Go to 1982 to Find a Higher Number’

EXCERPT:

SENTELI: “CPI headline number up 0.6 percent. Up 0.6 percent, that equals our last look, the high-water mark on that was up 0.9 several times, October of last year being the most recent. If you strip out food and energy it was up 0.6 as well. Both these are hotter than expected. And on the core side up 0.9 of the high-water mark from April. So these were supposed to moderate, they did not moderate. Now for the biggies, 7.5 on year over year headline, 6 percent on year over year core. Let’s go to the white board. So 7.5 percent, and that is, of course on, headline. You have to go to 1982 to find a higher number, and of course when we look at 5.5 on core, well, 5.5 December of ’21 was 5.5. So therefore we are equaling what we have seen last, but, no, it came in at 6 percent. So now we have to go down on the white board to August of ’82. So those are your numbers on the year over year. That’s what everybody’s most concerned about.”