Inflation Highest In Nearly 3 Years 5/14/26

Summary

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Your Money Minute – “Inflation Highest In Nearly 3 Years”

Host: Jessica Ettinger, CNBC
Date: May 14, 2026

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Episode Overview

This rapid-fire, 60-second episode zeroes in on the latest headline: inflation reaching its highest point in nearly three years. Host Jessica Ettinger delivers the key numbers from the April CPI (Consumer Price Index), enlists CNBC’s economics experts to break down which areas are hardest hit, and explores how continuous inflation affects consumers and market sentiment.

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Key Discussion Points & Insights

• Headline Inflation Numbers (00:00—00:16)

  • Jessica Ettinger kicks off with the April CPI report.
  • Main Theme: Inflation is now at the hottest rate since mid-2023.

• Expert Analysis: Rick Santelli on CPI (00:16—00:41)

  • Headline Figure: 3.8% annual inflation—“hotter than expected.”
  • Historical Context: Last peak was May 2023 at 4%.
  • Impact on Everyday Life:
    • “The average person out there is not going to feel any more comfortable with some of the inflation they pay, whether it's from the grocery stores or all the way to bigger ticket items.” – Rick Santelli (00:29)
  • Uncertainty in Numbers: He notes that while analysts can “massage these numbers any way you want,” what matters is the continued upward trend.

• Breakdown: Where Prices Are Spiking (00:41—01:08)

  • CNBC’s Steve Liesman specifies which categories are driving inflation:
    • Gas: Up 5%
    • Energy (overall): Up 3.8%
    • Electricity: Up 2.1%—possibly connected to a “data center story” impacting energy demand.
    • Owner’s Equivalent Rent (Shelter): Up 0.5%
    • Airlines: Up 2.8%
  • “Consumers are going to feel it in their pocketbooks.” – Steve Liesman (01:07)

• What’s Next: Looking Ahead to Summer (01:08—01:27)

  • Some economists expect inflation to keep rising.
  • Jose Torres (Interactive Brokers economist) on market impacts:
    • “May, June and July are likely to come in above 4%. It's going to be interesting to see how investor sentiment holds up against that backdrop.” – Jose Torres (01:19)

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Notable Quotes & Memorable Moments

• Rick Santelli (CNBC):
  • “It just keeps climbing. It's a matter of how much until we get negative signs.” (00:21)
  • “The average person out there is not going to feel any more comfortable with some of the inflation they pay, whether it's from the grocery stores or all the way to bigger ticket items.” (00:29)
• Steve Liesman (CNBC):
  • “That could be that whole data center story playing out in the CPI. We need to talk about.” (00:54)
  • “Consumers are going to feel it in their pocketbooks.” (01:07)
• Jose Torres (Interactive Brokers):
  • “May, June and July are likely to come in above 4%. It's going to be interesting to see how investor sentiment holds up against that backdrop.” (01:19)

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Timestamps for Key Segments

• 00:00 — Host Jessica Ettinger introduces the episode and main topic
• 00:16 — Rick Santelli breaks down the 3.8% inflation figure
• 00:41 — Steve Liesman details which price categories are surging
• 01:08 — Outlook for the coming months from economist Jose Torres

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Tone and Style

The episode maintains CNBC’s hallmark straightforward, fact-driven tone. The experts’ candid remarks underscore concern that rising inflation is broadly felt by everyday Americans, and the brief format ensures each soundbite is packed with insight.

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Summary:
This one-minute spotlight offers a snapshot of why inflation is dominating financial headlines—driven by energy, shelter, and travel costs, and creating real pressure for consumers and investors alike. The quick insights from CNBC’s experts ground the headlines in practical impact, while hinting at more challenging months ahead.

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Transcript

[A]

With a CNBC you Money minute, I'm Jessica Ettinger. Inflation is now at the highest in nearly three years. The April CPI Consumer Price Index report is out. Here's CNBC's Rick Santelli. 3.8%

[B]

hotter than expected. 3.8 would be the warmest since May of 23, when it was 4%. We could massage these numbers any way you want, but ultimately it's. It just keeps climbing. It's a matter of how much until we get negative signs. The average person out there is not going to feel any more comfortable with some of the inflation they pay, whether it's from the grocery stores or all the way to bigger ticket items.

[A]

CNBC senior economics reporter Steve Liesman has a look at where prices spiked and their Percentage increases.

[C]

Gas up 5 for energy overall up 3.8. Big jump in month to month. Electricity up 2.1%. That could be that whole data center story playing out in the CPI. We need to talk about. Owner's equivalent rent up 0.5%. That's your shelter. Airlines up 2.8. So consumers are going to feel it in their pocketbooks.

[A]

Some economists believe inflation will keep climbing. Interactive brokers economist Jose Torres tells CNBC he's going to be watching to see how investors feel when that happens.

[D]

May, June and July are likely to come in above 4%. It's going to be interesting to see how investor sentiment holds up against that backdrop.

[A]

Keep up on the [e-mail] I'm Jessica Edinger. CNBC

[E]

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