Economist Mohamed El-Erian: 'Inflation's Going to Be Sticky at Around 4-5%'

On Monday's broadcast of CNBC's "Squawk Box," economist and President of Queens' College Dr. Mohamed El-Erian stated that in the wake of the March CPI's core inflation reading running at expectations with a 0.4% month-over-month increase and 5.6% year-over-year increase, the markets and inflation surveys both are recognizing that inflation is "going to be sticky at around 4-5%" and that he agrees with this assessment.