the caucuses seven years ago plus, themarkets get a break as cooling inflation sparks a much needed rally on wall street. but what about main street what does the latest report tell us about the cost of food and clothes and electricity? we ll break it all down for you. and forecasters in california warning that a new round of rainstorms may bring large scale and long lasting flooding up to eight more inches of rain falling on areas yet to recover from last week s storm as the totals reached levels not seen in decades all this as the northeast sees its first real snow of the season, less than a week before the official start of spring we have a lot going on we ll have all of it for you in just a minute. but we start with donald trump unveiling his strategy for presidential run number three, fully embodying the combative, insulting and misleading campaign style that made him president. but that we had seen very little of in recent months. it started before he even got to io
Impeachment threat. Some House Republicans say an inquiry into the biden Family Business dealings is overdo. Now the Biden Campaign is pushing back. Well take you live to the white house in a few moments where a News Briefing should start soon. Inflation acceleration. It ticks up for a second straight month. Bu but dig into the numbers and there is reason for hope. What it means for the feds upcoming Interest Rate decision. The nightmare is over and an escaped killer is in cuffs. The twoweek man hunt ends with a swarm of Law Enforcement surrounding Danelo Cavalcante. How did he evade hundreds of officers for so long . Were following these major developing stories and many more all coming in right here to cnn news central. So were Just Moments Away from the First White House Briefing Since Kevin Mccarthy announced an Impeachment Inquiry into President Biden. The move comes at a crucial moment in the political calendar. The intense polarization in washington is about to get supercharged.
that s the largest increase in more than 40 years electricity nearly 13% higher. clothing prices not as bad, but still up just over 3%. we do have one bright spot, and that s transportation. used car and truck prices saw a big drop from a year ago down more than 13% gas prices are also down by 2% the market seemed to like this report, stocks are at least up today after taking a beating in recent days over worries about the collapse of two big banks. let s bring in cnbc s economics editor jeff cox. so when you looked at these numbers today what are your biggest takeaways? well, the biggest takeaway number one as you say that inflation is still very much a thing in the u.s. economy. we re off the boil from where we were last summer when the inflation rate was up around 9%. but 6% inflation is still very significant. you cited a number very important data points there, the
not to actually new testing facilities. we also learned that nearly $2 billion of covid relief money that was supposed to go to fixing supply chain issues, to testing, went to the border crisis. so, when you have these massive bills with little accountability in a, what they would call a crisis or emergency, much of it gets wasted and now we are hearing the white house is going to ask congress for even more money after build back better was stalled on the hill. so, i ve always said the president should be thanking democrat senator joe manchin for stopping build back better, inflation would be worse with that bill but a direct result of too much spending by the government and too little accountability. sandra: moving on from food prices which everybody is talking about to also the price of gasoline, skyrocketing. we know the year over year increases are unbelievable. if you fill up the gas tank you feel it. gas prices up, used car, truck
companies to slow or even shut down production in some of the factories they own. we know that ford, gm, honda, and that owns chrysler had the production impacted and we just learned this morning that toyota is slowing production at factories in west virginia and alabama. hundreds of miles away from this bridge in ontario. and all connected the north america economy is, especially when it comes to autos. it s not just the canadian auto industry or u.s. auto industry. they re really all joined at the hip. we also have to keep in mind that people are already dealing with sticker shock when it comes to cars. we learned just yesterday that new car and truck prices up by 12% in january from the year before, that is an all-time high. there s not enough new cars due to the shortage of computer chips, used car prices up by more than 40%. it s hard to see how these production impacts driven by the