Inflation surge driven by increase in used car and gas prices

The latest report from the U.S. Department of Labor shows the Consumer Price Index jumped to 5.4%, the largest increase in 13 years. Experts say the rise is being driven in part by an increase in prices of used cars, gas and hotel stays. Mark Zandi, chief economist with Moody’s Analytics, joined CBSN to explain the reasons for the spike and his predictions for the coming year. Source