Rick Santelli – Inflation rose less than expected in November at 7.1% year-over-year

CNBC’s Rick Santelli and Steve Liesman join ‘Squawk Box’ to break down November’s consumer price index data. For access to live and exclusive video from CNBC subscribe to CNBC

7.1% inflation 7.1% inflation
in 2021: now: pic.twitter.com/hDsPB4LNz1

— Not Jerome Powell (@alifarhat79) December 13, 2022

The salient point is not whether #inflation has peaked (it hasn't), but the unpleasant reality that inflation will not return to levels anywhere near 2% during the foreseeable future. This is the game changer for the #Fed. Most investors have no clue how to play by the new rules.

— Peter Schiff (@PeterSchiff) December 13, 2022

Inflation is a tax on ALL Americans.

📈Eggs are UP 49.1%
📈Airline Fares are UP 36%
📈Milk is UP 14.7%
📈Electricity is UP 13.7%
📈Groceries are UP 12%
📈Chicken is UP 12%
📈Gas is UP 10.1%
📈Baby Food is UP 10.9%

— House Republicans (@HouseGOP) December 13, 2022

The numbers don’t lie.

Wages have not kept up with inflation for the past 20 months.

Stop misleading the American people, Mr. President. pic.twitter.com/eQ3P0LySaa

— Nikki Haley (@NikkiHaley) December 13, 2022

• If one month of a lower than expected #CPI is good news, why is the dollar tanking and #gold up $30? The reason is that a lower CPI gives the #Fed an excuse to ease up on its #inflation fight. That means even higher future inflation, which is bad for the dollar and good for gold. – Peter Schiff
• BREAKING: Inflation rises 7.1% in November, consumer prices remain near multi-decade high – Fox Business Article
• There is NOTHING exciting about record high inflation, empty grocery stores, and the radical left-wing agenda. And more and more young people are starting to realize it. It’s about time. – CJ Pearson

Inflation rates for the "have to" basket of non-discretionary items of life: pic.twitter.com/vzwpM31wX2

— Steve Cortes (@CortesSteve) December 13, 2022

In fact, the rate of inflation has outpaced the wages of Americans a record 20 months in a row.

Real hourly earnings have also declined every month Biden has been in office.https://t.co/dVMNI0GpoR

— Greg Price (@greg_price11) December 13, 2022

Global Inflation Rates… pic.twitter.com/VtQIki2WRL

— Charlie Bilello (@charliebilello) December 13, 2022