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Transcripts for CNN The Situation Room With Wolf Blitzer 20220112 23:41:00

they re almost going straight up. this is the eighth month in a row where inflation is topping 5% or higher. remember, the fed s goal is for 2%. we re nowhere near that. there were some glimmers of hope in today s report. month over month prices did decelerate. energy prices dropped for the first time since april of 2021. that might not last for very long because we ve seen oil prices come up to a two-month high. prices at the pump have stopped going down. now, i spoke to a senior white house official who told me they don t have a crystal ball to know when prices are going to peak, but they said the administration is doing everything it it can to try to keep prices in check, including by trying to get the covid situation under control and trying to unclog supply chains. but you know, i did talk to some economists, who do think that maybe in the coming months inflation could peak. maybe later this winter, maybe this spring. but the better question might be where do prices land once they

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