CNBC’s Liesman: ‘It Was Just a Lousy Month When It Came to Inflation’

LIESMAN: “This issue we talked about these beginning-of-the-year price increases is something that drove inflation this time around. A lot of big increases in medical costs. You’ve got medical care up 0.7, motor vehicle insurance up 1.4, hospitals up as well. You didn’t get much — you got a little relief from the used car world, you got food prices up. It was just a lousy month when it came to inflation. Of course, real earnings also declined in the month, worth pointing out. I think the other big, big, big issue here is the owner equivalent rent up 7.6%.”