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Working with refiners to encourage them to be producing as much as they can at capacity, as well as, you know, putting on the table a federal gas tax holiday. so the president has taken a series of steps but one thing that he wants to make clear is that, you know, while we have seen the price of oil fall significantly, we actually haven't seen prices at the pump fall as much. so the president has also called on, you know, gas sellers to reflect those prices that americans are paying. so this is a challenging issue but the president has taken concrete steps to address it. >> gas prices have sto...

Inflation number for consumer prices. that is a big number. and that second number to the right, 0.5%. sorry that didn't get updated. 0.5% from november to december. that is also a big one-month move. when you strip out volatile food and energy, the so-called core rate, that was 5.5% from december 2020 to 2021 and from november to december, 0.6%. you can see these numbers are still running way too hot. this is the hottest inflation in decades. i look inside these numbers, just from november, december, used vehicle prices up 3.5%. anybody trying to buy a used car knows these numbers are running...

Rose 5.5% on an annual basis. that is the fastest inflation since 1991. and the core rate of 0.6%. john, really important here on energy, energy costs cooled off in december. these numbers would have been even worse if it weren't for a cooling off in energy. for just about everything else, prices went up -- i'm trying to find where prices fell. i can only see vehicle, motor vehicle insurance, and some recreation categories, prices fell just about everything really running at a hot pace here. this is why the economy is strong. this is why the polls show people say they don't feel it because thi...

Ago on inflation in the united states. cnn chief business correspondent christine romans with the numbers. >> measuring that gut punch, john, that inflation gut punch that everyone is feeling, 39 years ago was the last time we had inflation running this hot. 6.8% annual overall consumer price index. that's a pretty hot number. you felt this in everything from cars to gasoline to food at home to food away, you've been feeling higher prices and this november number shows that. you strip out the volatile food and energy and you have 4.9% is the core rate. again, that is the highest since the 1980...

Freight is expensive to move around the world. rent prices are going up. you know, is this a reality that the white house is choosing to look away from? >> yeah, i think it is. larry summers, who is no -- is a democrat, served as democrat secretary treasury, he warned in february when the first -- this year's additional stimulus bills were passed in the spring, larry summers, a long-standing democrat warned that inflation was going to take off. it was taking off. he's right. you've seen it accelerate even higher. he's right. the fed likes to ignore the unfortunate, the difficult numbers and fo...