On Friday morning, the Labor Department revealed that its Consumer Price Index stands at 3.3 percent higher than it was in March 2025, representing the highest inflation hike in two years. While reactions to the news are still rolling out, Fox Business offered a take on the situation that some are calling “delusional:” that the inflation “surge” is something to celebrate.“If you would've told me three months that we'd see a jump from 2.4 percent to 3.3 percent year over year CPI & we'd be celebrating it, I would've thought you were crazy,” declared an analyst appearing on Mornings with Maria Bartiromo. “But the market is telling us something — they believe the price shocks from crude oil are transitory. It’s almost funny to me that we’re celebrating 3.3 percent, but here we are.”“It could have been a lot worse,” agreed Bartiromo.Responses to their comments range from asking “who’s celebrating?” to calling the assertion “delusional at its most exquisite.”These high inflation numbers were driven by President Donald Trump’s war on Iran, which sent gas prices skyrocketing by a record 21.2%, the largest monthly increase on record. At the same time, wages haven’t been keeping pace with inflation, and a hiring slowdown has resulted in an uneven job market. The combination of these and other negative indicators don’t bode well for the economy moving forward. According to economists, the situation will likely only get worse. "Every recession since the 70s has been preceded by an energy price shock and if consumers thought there was a cost of living crisis before, get ready, as you haven't seen nothing yet," said Chris Rupkey, chief economist for FWDBONDS LLC. "The bond market is holding up as traders for now as they are unsure how transitory this inflation surge is, but one thing is for sure and that is the longer Fed officials sit on the sidelines and do nothing, the worse inflation is going to get.”