Book your ticket to happiness with Sun Express Airlines. This is CBS I on the World with John Bachelor.

Here's John Bachelor.

This is CBS I on the World. I'm John Batcheler. The American Economy with

Elizabeth Peak columnist at the Hill, Commus at Fox News, much on Fox Business. The

reaction in the Wall Street Journal headline suggests that we must do a whole lot of

illustration. For example, inflation picks up to 3.2 percent, comma, slightly hotter than expected, subhead.

Core inflation was, which excludes food and energy was up 3.8 percent.

I need a inflation whisper Liz good evening to you.

Good evening to you.

Good evening John don't we all because this is the most watched number

although the markets didn't seem to react to it very much today.

So maybe they've moved on to something more intelligent like earnings.

I don't know.

I mean, look, the inflation numbers for several months actually have been somewhat

disappointing that is to say they haven't been slowing as everybody expected

it to the culprit today was energy I think we talked about that last week that energy remains an

X factor and as much as everybody would like to put that to bed and sort of

pretend that oil prices don't matter guess what do, and they have been moving steadily higher.

So gasoline prices have been moving somewhat higher.

It's not because demand is so strong around the world.

After all, China continues to be consuming less oil

than you might expect, given their historical trend line growth.

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