CNBC's Dominic Chu said on MSNBC's "Morning Joe" Wednesday that "nobody has the guts" to say inflation has peaked because "things have gotten so pervasively bad."
Hanna Panreck is an associate editor at Fox News.
"You can't," Chu said. "If you take that out, that so-called core Consumer Price Index, excluding food and energy, it’s still up 5.9%. There’s an old saying, right. The journey of a thousand miles begins with a single step. And that’s the reason why economists and many Wall Street experts are looking at this particular piece of inflation."
Chu continued, "Because as we've said in the past, nobody has the guts yet to call a peak in inflation, because things have gotten so pervasively bad. Could this be the sign that things are starting to slow down and that we could be trending lower? Yet to be seen, but when you have inflation going nowhere on a month-over-month basis, flat zero percent between June to July, could that be the beginning of what we’re seeing here?"