Inflation Keeps Rising 4/24/26

Summary

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Podcast Summary: Your Money Minute

Episode: “Inflation Keeps Rising 4/24/26”
Date: April 24, 2026
Host: Jessica Ettinger (CNBC)
Length: 60 seconds

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Episode Overview

In this rapid-fire episode of "Your Money Minute," Jessica Ettinger focuses on the latest inflation developments in the U.S. economy. Drawing on expert voices from CNBC and visiting economists, the segment covers the current inflation rate, projections for the near future, and differing viewpoints on what’s driving persistent price increases and how Americans are feeling the effects on their wallets.

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Key Discussion Points & Insights

1. Inflation Hits a Two-Year High (00:00–00:15)

• Stat Highlight: Inflation in the U.S., measured by the Consumer Price Index (CPI), reached 3.3% in March 2026—a two-year peak.
• Public Sentiment: Americans are described as "inflation weary," signaling fatigue and frustration with continued price hikes.
• Outlook: “There's no end in sight.” – Jessica Ettinger (00:12)

2. Expert Analysis: Little Hope for Relief (00:15–00:22)

• Market Perspective:
  • Rick Santelli, CNBC:
    “To remove some of the compounding nature of what these numbers encompass, you have to see minus signs. I wouldn't count on that anytime in the future.” (00:18)
  • Interpretation: Santelli underscores that to truly offset inflation’s effects, we’d need to see actual deflation—a decrease in prices—which he thinks is highly unlikely.

3. Economic Forecast: More Inflation Ahead (00:22–00:37)

• Future Projections:
  • David Merkel, Goldman Sachs economist:
    “So we, we saw a very large increase in headline. I think we will likely see another one in April. We think something like 4%.” (00:32)
  • Insight: Merkel expects headline inflation to continue climbing, projecting another sizable rise in April.

4. Political Accountability: Assigning Blame (00:37–01:07)

• Policy Criticism:
  • Former Transportation Secretary Pete Buttigieg (on CNBC) blames the current administration, led by President Trump, for exacerbating inflation:
    • Tariffs: Raising goods prices.
    • Energy Policy: Canceling transmission and generation projects lifts energy costs.
    • International Conflict: Ongoing war further drives up prices. “They're actively making prices higher... Inflation is higher now, tripling from last month.” – Pete Buttigieg (00:44–01:07)
  • Tone: Direct, critical, and politically charged.

5. Real-World Impact: Life Is Still “Stupid Expensive” (01:07–01:30)

• Everyday Reality:
  • Kelly Evans & Brian Sullivan, CNBC, offer a relatable, frustrated take: “All we experience is that prices still are going up and staying up there and creeping higher.” – Kelly Evans (01:11) “If you tell somebody inflation is moderating, you might get punched in the face. If you're me, like the burger went from 12 to 20. Now we're happy because it's a 21. Exactly. But it's not going back to 12. All the pace of inflation is moderating. Everything is still stupid expensive.” – Brian Sullivan (01:16–01:30)
  • Insight: Even though the "pace" is said to be moderating, prices are not coming down—Americans don’t feel relief at the checkout.

6. Wrap Up: Resources for Listeners (01:30–01:38)

• Further Information:
  • Jessica Ettinger signposts listeners to more economic insights and personal finance advice at CNBC.com.

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Notable Quotes & Moments

• “Americans are being called inflation weary. Inflation hit a two year high of 3.3% in March in the CPI, the consumer price index, and there's no end in sight.”
  — Jessica Ettinger (00:00–00:12)

• “To remove some of the compounding nature of what these numbers encompass, you have to see minus signs. I wouldn't count on that anytime in the future.”
  — Rick Santelli (00:18–00:22)

• “We will likely see another [increase] in April. We think something like 4%.”
  — David Merkel (00:32–00:37)

• “Right now we have the administration actively making prices higher... Inflation is higher now, tripling from last month.”
  — Pete Buttigieg (00:44–01:07)

• “If you tell somebody inflation is moderating, you might get punched in the face. ... Everything is still stupid expensive.”
  — Brian Sullivan (01:16–01:30)

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Important Timestamps

| Timestamp | Segment | |:----------:|---------------------------------------------------| | 00:00–00:15| Inflation stats & U.S. outlook | | 00:15–00:22| Rick Santelli’s analysis | | 00:22–00:37| Goldman Sachs’ David Merkel on rising headline CPI| | 00:37–01:07| Pete Buttigieg assigns blame | | 01:07–01:30| Kelly Evans & Brian Sullivan: personal impacts | | 01:30–01:38| Further resources from CNBC |

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Episode Takeaway

This episode encapsulates growing public anxiety over rising inflation, with little hope for near-term price relief. Expert analysis, political debate, and relatable anecdotes combine to paint a picture of sustained financial pressure for everyday Americans.

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Transcript

[A]

With a CNBC you money minute, I'm Jessica Ettinger. Americans are being called inflation weary. Inflation hit a two year high of 3.3% in March in the CPI, the consumer price index, and there's no end in sight.

[B]

To remove some of the compounding nature of what these numbers encompass, you have to see minus signs. I wouldn't count on that

[A]

anytime in the future. That's CNBC's Rick Santelli. Goldman Sachs economist David Merkel tells CNBC, you can brace yourself for more.

[C]

So we, we saw a very large increase in headline. I think we will likely see another one in April. We think something like 4%.

[A]

On CNBC, former Transportation Secretary Pete Buttigieg laid the inflation blame right at President Trump.

[D]

Right now we have the administration actively making prices higher. They're actively making goods prices higher with the tariffs, obviously. They're actively making energy prices higher by killing energy transmission projects as well as generation projects. And they're of course actively making energy prices higher with a war that nobody wanted. Inflation is higher now, tripling

[A]

from

[D]

last month.

[A]

And here's a take from CNBC's Kelly Evans and Brian Sullivan. All we experience is that prices still are going up and staying up there and creeping higher.

[E]

Yeah, I mean if you tell somebody inflation is moderating, you might get punched in the face. If you're me, like the burger went from 12 to 20. Now we're happy because it's a 21. Exactly. But it's not going back to 12. All the pace of inflation is moderating. Everything is still stupid expensive.

[A]

Lots more on the economy and how things affect your wallet. @cnbc.com I'm Jessica Ettinger, CNBC.

[F]

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