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By the consumer prices index, was substantially higher than analysts had been expecting, up from 4.2% the previous month. the rise was partly driven by sharp increases in the cost of petrol and clothing. our business correspondent ramzan karmali joins me now. it is obviously a very high rate of inflation, how does it break down? you talk about fuel and energy, petrol has hit its highest ever level atjust below petrol has hit its highest ever level at just below £1.46 petrol has hit its highest ...

Lets start with this piece thats in "the wall street journal," an opinion piece that was published last year said "an april analysis from citigroup estimates that if costs were fairly allocated, parcels will cost $1.46 more. its as if every box comes with a dollar or two stapled to packing slip. jamie, there are people fact and disputing it. >> its a study out there. theres a commission degrees on this. they agreed on the rate amazon and others pay. this suggests not necessarily that amazon maki...

None. and that reference to $1.47 that the president came up with there? a citigroup city last year showed on average the postal service was charging $1.46 below market rates for package delivery. but our researchers point out if that discount exists, its not just for amazon. its a bulk rate discount. back to john roberts. there is a great deal of confusion or something here regarding amazon and the post office because none of that was true. >> shep does the magnolia state proud. >> yeah, i mean...

>> shepard: as i have been reporting amazon stocks have rebounded a bit after sliding earlier today following new attacks from president trump as we have reported. the president claims the united states postal service losing money through its shipping agreements with amazon. it does not. analysts say the post office makes a profit. here is how amazon has been trading over the last five days. you can see it started back over here when it was kind of high and back over here. its had a bit of rebou...

Office should jack up rates which, of course, would affect the delivery cost for amazon and all those people, shep, who pay a flat fee for prime delivery every year that might shift the cost curve a little bit for amazon. it could very simply be put down that this is a feud between the president and jeff bezos. you know, times have you got your own facts when you are in a feud. >> shepard: i guess. so amazon is up $9.46 a share by the way. in the middle of a trade war which we have now a trade w...

-- hit the middle. thank you. thank you. thank you, steve. we lose $1.46 per package. >> amazon is being undercharged. the post office needs to raise the price to get back to break even. theyre not doing that. >> postage stamps are too cheap. >> stamps are too cheap. if youre losing billions of dollars a year everything is too cheap. that is the problem right now. they would have to raise prices we all would pay a little more. brian: $30 billion less in first class mail. >> this is a huge number...

The russians are extremely unhappy about that. i will be interested to see if they back off cooperation with north korea and other issues as leverage and that back and forth in our relationship. >> jon: lieutenant colonel michael waltz, thanks for your perspective. >> happy new year. >> jon: president trump slamming amazon and the u.s. postal service over shipping rates. mr. trump to tweeting today, "why is the united states post office which is losing many billions of dollars every year while c...

You are meeting with president putin, according to this democrat. another example of democrat insanity on this question. >> yes. >> okay. when there is amazon jeff bezos -- revealed that the massive company gets a $1.46 subsidy for every single package that it delivers. the loser of the week is living the lynch and the obama administration. if this russian scandal is the massive scandal that it is, then they were the one who let the typhoid mary and to launch the whole thing. >> bret: gillian, w...

You are meeting with president putin, according to this democrat. another example of democrat insanity on this question. >> yes. >> okay. when there is amazon jeff bezos -- revealed that the massive company gets a $1.46 subsidy for every single package that it delivers. the loser of the week is living the lynch and the obama administration. if this russian scandal is the massive scandal that it is, then they were the one who let the typhoid mary and to launch the whole thing. >> bret: gillian, w...

Develops and produces nonconventional weapons. president trumps handling of syria was a bright spot for him. half of those polled said they approve of the presidents handling of this situation in syria and 62% support the air strikes carried out in the days following the chemical attack. up next, how the presidential election in france could have an impact at home. but first the cnbc market wrap. >> thank you. the stocks started strong. the s&p 500 rising by 25. the nasdaq is up 73. gas legihas ...