CNBC’s Santelli: Consumer Prices Spiked at 8.6%, the Highest Since 1981

TRANSCRIPT:

SANTELLI: "Year over year, these are the moneyball numbers, year-over-year headline, 8.6. 8.6, a new cycle high, usurping March, which was 8.5. That was the highest since 1981. Now 8.6 continues to be the highest since ’81, because the comp there is 8.9 to 11.8%. And if we look at year-over-year core, also hotter than expectations, up 6%, following 6.2%. High watermark there, 6.5, and that was in March and that was the highest since 1982. But remember, even at 6%, coming down from the high watermark of 6.5, that standalone is still the highest since 1982. So these are super stubborn numbers."