Experts say U.S. might already be in recession: CNBC

NEW YORK, June 15 (Xinhua) -- Strong inflation and anxious consumers add up to more worries that recession has already arrived, CNBC reported on Saturday, citing a few economists.

Both the consumer price index and core inflation excluding food and energy were higher than expected.

The consumer price index rose 8.6 percent in May from a year ago, the highest increase since December 1981.

"We're in technical recession but just don't realize it," the CNBC quoted Bank of America chief investment strategist Michael Hartnett as saying.

Peter Boockvar, chief investment officer at Bleakley Advisory Group, said he "wouldn't be surprised" if the recession "started in the third quarter of this year."

"You can say that we're in the midst of it right now, in the beginning phase. Only in retrospect will we know for sure, but it should not surprise us at this point," he added.