i m harris faulkner and you are in the faulkner focus . the producer price index up 11.3% over last year. now adding to fears of a recession compounding trouble for americans after yesterday s consumer prices index hit a four-decade high. notice the number on the left for wholesale prices, the goods being made for us, is cooking hotter than the inflation that we re faced with. now how long do you think it will take for them to pass that along to the consumer? will they even have a choice? former trump economic advisor explains it this way. i would like to walk through how you should think about inflation so people understand why. if you start the car at zero and accelerate 10 miles per hour per month after six months you go 60 miles per hour and after 12 months 120 miles per hour. what s my velocity right now is what you care about. we re hiding how big the increase in prices are that are affecting ordinary americans by a very large amount. inflation is startlingly high ri
not ones to write home about. 11.3% is the jump in wholesale prices from a year ago and came in lot steamier than economists predicted coming off the you know what it feels like when you buy things. consumer prices are up substantially. fastest pace we ve seen since 1981 back in reagan years. you have to go to art laffer to find that out. white house points out wages are up. here is the deal. wages aren t rising at the pace of inflation. you look at a pay cut of 3.6%. if you crunch the numbers inflation is costing the average american household $500 a month. setting on fire every single month because you aren t getting anything for that $500. bill: questions now including this how did we get here? many economists blame out of control government spending along the way. democrats are passed more than $3 trillion in new spending under president biden and they aren t taking their foot off the gas as they look to revamp build back better. let s go to mark meredith live f
earlier to discuss the findings before releasing the report. we will bring it to you when it begins. i m eric shawn. arthel: i m arthel neville. today s report comes days after the release of surveillance video from inside rob elementary school on the day of the shooting. we want to warn you that you may find this video disturbing. the video was obtained by the austin american statesman and [inaudible] tv and was edited into a shorter clip with some of the audio removed. it shows several officers standing in one of the school s hallways with while the shooter was still inside the building. it took 73 minutes to finally confront the shooter. today s report finds that nearly 400 officers were at the school. most of them state and federal law enforcement. senior correspondent casey steagall is live in uvalde with more. casey? yeah, arthel, as we speak, the victims families are still in that meeting with the state investigative committee here in uvalde. they are going over e
hospital tonight. first, those new images this evening. the israeli military claiming video showing a hamas tunnel beneath the al shifa hospital, where israel had claimed hamas operates an underground command center. tonight, also the laptop the israelis say they discovered there, with photos and videos of some of the more than 200 hostages. and they say the body of a hostage has now been found near the hospital. and the latest tonight on the efforts to get some of the hostages out. matt gutman standing by with new reporting in israel. also tonight, my interview with secretary blinken on the hostages, on the evidence at al shifa hospital, and on the summit here in the u.s. president biden and china s president xi. military communications back up between the two countries. progress on fentanyl. and secretary blinken on the moment biden called president xi a dictator after the summit. also breaking, the verdict in the attack on former speaker pelosi s husband, paul pelosi
including our exclusive interview with israeli prime minister benjamin netanyahu, who we spoke with earlier today. we asked him about the ongoing negotiations with hamas on the release of hostages in exchange for a temporary cease fire, while israel is facing tough questions from around the world about the conduct of the war. tonight, he answers those questions. also today, the israeli military says it found tunnels dug beneath gaza s al-shifa hospital and released video of its discovery. we also speak with america s top diplomat, secretary of state antony blinken, about that historic summit between president biden and china s president xi jinping. the new deal to crack down on the chemicals that make fentanyl, the drug that has caused so much pain and heartbreak here in america. with all of the biggest developments tonight, we are going to with cbs s debora patta who is in east jerusalem. reporter: with every bomb, every strike, families of the more than 200 hostages abduc