THIS WEEKEND.

>> Reporter: SOME PROTESTERS

BLOCKING THIS MAJOR CORRIDOR

BETWEEN THE U.S. AND CANADA SAY

THEY'LL RISK THEIR LIVES TO STAY

OUT HERE.

THREE NIGHTS ALREADY, NO SIGN OF

QUITTING.

>> YOU WOULD RISK YOUR LIFE

RATHER THAN LEAVE THIS PROTEST?

>> 100%.

ABSOLUTELY 100%.

>> Reporter: PROTESTS NOW

STARTING TO BITE DEEPLY INTO THE

ECONOMY.

SUPPLY CHAIN BOTTLENECKS, TRUCKS

BACKED UP FOR HOURS ACROSS THIS

BRIDGE AT PORT HURON.

AUTOMAKERS ON BOTH SIDES OF THE

BORDER STARTING TO SLOW OR

ALTOGETHER SUSPEND PRODUCTION.

WINDSOR'S MAYOR SAYS WHILE

CANADIANS HAVE THE RIGHT TO

PROTEST, PATIENCE FOR AN ILLEGAL

BLOCKADE IS RUNNING THIN.

>> THERE HAS TO BE A PATH GOING

FORWARD.

IF THAT'S PHYSICALLY REMOVING

THEM, WE'RE PREPARED TO DO THAT.

>> Reporter: THEY WANT ALL

CORONAVIRUS MANDATES AND

RESTRICTIONS LIFTED BEFORE THEY

SAY THEY'LL LEAVE.

>> I'M FIGHTING LIKE OUR

VETERANS DID FOR THE FREEDOM OF

OUR COUNTRY.

>> Reporter: PRIME MINISTER

JUSTIN TRUDEAU NOW A TARGET OVER

TOO MANY RULES.

THE PRIME MINISTER SO FAR NOT

BUDGING.

>> INDIVIDUALS ARE TRYING TO

BLOCKADE OUR ECONOMY, OUR

DEMO

DEMOCRACY, AND OUR FELLOW

CITIZENS' DAILY LIVES.

IT HAS TO STOP.

>> Reporter: MICHIGAN'S GOVERNOR

DEMANDING THAT THE BORDER

CROSSING BE REOPENED, CALLING

THE BLOCKADE UNACCEPTABLE.

ANTI-MANDATE ANGER SIMMERING FOR

WEEKS, STARTING WITH OPPOSITION

TO VACCINE MANDATES, EVEN THOUGH

GOVERNMENT STATISTICS SHOW MORE

THAN 80% OF CANADA'S TRUCKERS

ARE VACCINATED.

SOME PROVINCES SUCH AS

SASKATCHEWAN AND QUEBEC HAVE

RECENTLY ANNOUNCED PLANS TO ROLL

BACK COVID RESTRICTIONS.

BUT FOR THOSE WHO BELIEVE THE

GOVERNMENT HAS ROBBED THEM OF

THEIR LIVELIHOODS, THEY SAY IT'S

NOT ENOUGH.

>> YOU WANT THE ENTIRE COUNTRY?

>> NOT ONLY DO I WANT THE

PROVINCIAL ONES, I WANT THE

NATIONAL ONES DONE.

I WOULD LIKE TO SEE SOMETHING

WHERE THEY CAN'T HAPPEN AGAIN.

IF WE CAN GET THE RESTRICTIONS

GONE, THIS LITTLE BIT OF A

DISRUPTION IN OUR DAY TODAY FOR

THE NEXT WEEK OR TWO, WHATEVER

IT TAKES, THEY'LL THANK US FOR

I

IT.

>> Reporter: SO I WANT TO GIVE

YOU A SENSE OF HOW THESE

PROTESTS ARE GOING HERE EVERY

DAY HERE IN WINDSOR.

THE CROWD REALLY GROWS DURING

THE DAY.

YOU PROBABLY HAVE SEVERAL

HUNDRED PEOPLE OUT HERE RIGHT

NOW.

AT NIGHT MOST PEOPLE LEAVE,

OTHERS GO INTO THEIR CARS.

BUT THE RESOURCES ARE COMING IN

BOTH HERE AND WINDSOR AND THE

PRIME MINISTER TODAY SAYING HE

IS SENDING MORE RESOURCES,

POLICE RESOURCES TO OTHER

PROTESTS IN OTHER PARTS OF THE

COUNTRY.

CLEARLY PATIENCE ACROSS CANADA

ARE RUNNING OUT.

JAKE.

>> MIGUEL MARQUEZ, THANK YOU

VERY MUCH.

>>> THESE SUPPLY CHAIN WORRIES

COME AS WE LEARN INFLATION IS

NEAR A 40-YEAR HIGH, CLIMBING

7.5% IN JUST 12 MONTHS.

WE LEARNED TODAY FROM THE BUREAU

OF LABOR STATISTICS.

IT'S THE STEEPEST RISE SINCE

1982.

PRESIDENT BIDEN ACKNOWLEDGING

THAT INFLATION IS PUTTING STRESS

ON AMERICANS' BUDGETS.

IT'S ALSO A HUGE POLITICAL

LIABILITY FOR PRESIDENT BIDEN.

A NEW CNN POLL SHOWS NEARLY SIX

IN TEN AMERICANS DISAPPROVE OF

HIS TIME AS PRESIDENT.

62% DISAPPROVE OF HIS HANDLING

OF THE ECONOMY WHILE 37%

APPROVE.

VANESSA NOW LOOKS INTO THE

GROWING STICKER SHOCK ON

EVERYTHING FROM CARS TO YOUR

GROCERY BILLS.

>> Reporter: YOU SEE IT AT

CHECKOUT, SEEMINGLY EVERYTHING

IS MORE EXPENSIVE.

THE BENCHMARK FOR PRICES, THE

CONSUMER PRICE INDEX, UP 0.6% IN

JANUARY AND 7.5% IN THE LAST 12

MONTHS.

THE HIGHEST JUMP IN NEARLY 40

YEARS.

>> THIS IS A CHALLENGE THAT IS

FIRST AND FOREMOST IN OUR

SIGHTS.

WE HAVE WAY MORE WORK TO DO.

>> Reporter: BIG INCREASES IN

CARS, GROCERIES AND ELECTRICITY

YEAR OVER YEAR, AND FOOD UP

NEARLY 1% IN JANUARY.

A HUGE SPIKE FROM DECEMBER.

>> IT'S A CONSTANT REJUGGLING OF

BUDGETS TO TRY TO KEEP UP WITH

THE FOOD PRICES LATELY.

>> Reporter: GAS DID DROP

BY 0.8% LAST MONTH, BUT WITH OIL

PRICES RISING, THAT LIKELY WON'T

LAST.

FILLING UP YOUR CAR COSTS 40%

MORE THAN IT DID A YEAR AGO.

>> I USED TO BUY ABOUT $20 BUT

I'M BUYING ABOUT $35.

>> FOR THE SAME AMOUNT?

>> YES.

FOR THE SAME QUANTITY.

>> Reporter: LAST MONTH, NEW

ALL-TIME PRICE RECORDS.

TRUCKS, SEAFOOD, MEALS AND

FURNITURE SAW THE HIGHEST JUMPS

EVER YEAR OVER YEAR.

AND USED CARS UP A WHOPPING

40.5% IN THE LAST 12 MONTHS.

THIS BECAUSE OF SUPPLY CHAIN

SHORTAGES, PARTICULARLY THE

ELUSIVE SEMICONDUCTOR COMPUTER

CHIP, WHICH MEANS FEWER NEW CARS

ON THE MARKET.

>> WE'VE SEEN ANYWHERE FROM ZERO

CARS IN OUR LOT, NEW CARS NOW,

ZERO NEW CARS IN OUR LOT TO

HAVING AS MANY AS NINE, TEN, 12.

>> AND NOW TRUCKERS BLOCKING A

KEY TRADING ROUTE BETWEEN THE

U.S. AND CANADA, CUTTING

PRODUCTION AT GENERAL MOTORS AND

FORD PLANTS, WHICH COULD LEAD TO

HIGHER PRICES.

>> WE CAN'T HAVE A SITUATION

WHERE FAMILIES DON'T GET FOOD TO

THEIR TABLE.

>> Reporter: WHILE THE COST OF

SHELTER CLIMBED LESS THAN IT DID

IN DECEMBER, IT'S UP 4.4% SINCE

LAST YEAR.

IT'S THE LARGEST SHARE OF

MONTHLY EXPENSE FOR AMERICANS.

>> WHAT IS UNIQUE IN THE CURRENT

CYCLE IS THAT WE HAVE THIS

EXCEPTIONAL HOUSING SHORTAGE,

NOT ENOUGH HOMES FOR SALE, NOT

ENOUGH APARTMENTS AVAILABLE FOR

LEASING, AND CONSEQUENTLY THE

HOUSING COSTS IS RISING AND

POSSIBLY ACCELERATING FURTHER IN

THE UPCOMING MONTHS.

>> Reporter: INFLATION IS NOT

COOLING DOWN.

THIS IS WHERE THE FEDERAL

RESERVE STEPS IN.

THEIR SINGLE GREATEST TOOL TO

LOWER CONSUMER PRICES IS TO COOL

DEMAND BY RAISING INTEREST

RATES, WHICH THEY SIGNALLED

WOULD START IN MARCH.

>> ON A CAR, IT'S GOING TO BE A

LITTLE MORE DIFFICULT TO COOL

THAT DOWN, ONLY BECAUSE OF LACK

OF SUPPLY AND THE HUGE DEMAND

RIGHT NOW.

>> Reporter: SOME GOOD ECONOMIC

NEWS, GDP IS UP, UNEMPLOYMENT IS

LOW, AND WAGES ARE RISING.

BUT IT'S NOT KEEPING UP WITH THE

RISING INFLATION THAT WE ARE

SEEING.

MOODY'S ANALYTICS ESTIMATES THAT

U.S. HOUSEHOLDS ARE SPENDING ON

AVERAGE $250 MORE EVERY MONTH.

SO EVERYDAY CONSUMERS, JAKE,

THEY DON'T FEEL THINGS LIKE GDP,

THEY FEEL WHAT'S HAPPENING WITH

THEIR WALLETS.

THAT'S WHY THESE RISING PRICES

ON EVERYDAY ITEMS IS CAUSING

MANY AMERICANS TO STILL SOUR ON

THE ECONOMY.

>> VANESSA, THANKS SO MUCH.

LET'S BRING IN A CNN GLOBAL

ANALYST AND ASSOCIATE EDITOR AT

"THE FINANCIAL TIMES" AND

RICHARD QUEST, CNN BUSINESS

EDITOR AT LARGE.

RICHARD, FIRST TO YOU.

LET'S LOOK AT SOME OF THESE

PRICE SPIKES AT ALL-TIME HIGHS.

FURNITURE, NEW CARS, APPLIANCES,

RESTAURANT MEALS, NOT TO MENTION

STICKER SHOCK ON OTHER ITEMS

LIKE USED CARS, UP 40%.

ELECTRICITY UP 11%.

WE'VE WATCHED THESE PRICES GOING

UP FOR MONTHS.

WHAT SEEMS TO BE DRIVING THIS?

>> TWO FACTORS.

FIRSTLY THE SUPPLY CHAIN THAT WE

TALKED ABOUT.

YOU AND I HAVE TALKED ABOUT.

BASICALLY THE CRUNCH FROM CHINA

TO HERE.

NOT ENOUGH CONTAINERS, NOT

ENOUGH SHIPS, NOT ENOUGH PORTS.

VASTLY INCREASED DEMAND BECAUSE

PEOPLE WORKING FROM HOME.

AND DON'T FORGET THOSE WHO

WEREN'T LAID OFF HAVE GOT

DISPOSABLE INCOME TO SPEND SO

PEOPLE, THE CONSUMER, IS VERY

BUSY.

THAT'S THE OTHER SIDE.

THIS IS ECONOMICS 101.

YOU KNOW THE OLDEST RULE, WHEN

DEMAND CHASES SUPPLY, PRICES GO

UP.

AND THAT'S WHAT YOU'RE SEEING.

CONSUMERS WITH MONEY BUYING MORE

STUFF, SUPPLIES CAN'T GET IT TO

YOU.

AND YOU HAVE THIS DEPRESSING

CYCLE, THIS SPIRAL THAT JUST

GOES ON.

I'LL TELL YOU WHY IT'S

PARTICULARLY WORRYING, BECAUSE

EVENTUALLY THIS FEEDS THROUGH TO

WAGES.

PEOPLE NATURALLY, JAKE, WANT

MORE HIGHER WAGES, BECAUSE

THEY'RE PAYING MORE FOR

EVERYTHING.

THE FED COMES IN, PUTS INTEREST

RATES UP, AND ET AL. IT ALL CO

>> 3M IS THE COMPANY AT THAT

MAKES N-95 FACE MASKS IN

ADDITION TO ADHESIVES AND OFFICE

SUPPLIES.

ACCORDING TO A TRANSCRIPT OF

THEIR EARNINGS CALL, COMPANY

EXECUTIVES APPLAUDED THEIR OWN

COMPANY FOR RAISING PRICES.

THE CFO SAYING THE TEAM HAS DONE

A MARVELOUS JOB IN DRIVING

PRICE.

OBVIOUSLY WHAT RICHARD SAID IS

ACCURATE IN TERMS OF ISSUES, BUT

I'M ALSO WONDERING HOW MUCH

PRICES ARE GOING UP BECAUSE OF

CORPORATE GREED AND COMPANIES

AND CEOs AND CFOs TAKING

ADVANTAGE OF THIS MOMENT?

>> WELL, YOU KNOW, IT'S A GREAT

QUESTION AND IT'S A QUESTION

THAT THE BIDEN ADMINISTRATION

HAS BEEN ASKING.

YOU KNOW, YOU'VE SEEN IN RECENT

WEEKS THE WHITE HOUSE SAYING

THAT THERE IS TOO MUCH