CNBC: Inflation Is Back on the Rise, up 3.7% Over Last Year — ‘Hotter Than Expected’

EXCERPT:

SANTELLI: “Strip out food and energy, up 0.3 of 1 percent. Year-over-year, up 3.7 percent. That is hotter than expected, hotter in the rearview mirror. And 3.7 last time we're anywhere near there was up 4 percent in May.”