Peanut Butter Caramel Cupcakes

INGREDIENTS

1/2 cup

smooth peanut butter (not natural style)

1 cup

granulated sugar

1 1/2 cups

all-purpose flour

1 1/2 tsp

baking powder

1/2 tsp

baking soda

1/4 tsp

salt

3/4 cup

buttermilk

large eggs

1 tsp

vanilla extract

4 oz

cream cheese, at room temperature

1/4 cup

unsalted butter, at room temperature

1/3 cup

smooth peanut butter (not natural style)

2 cups

powdered sugar, sifted

1/2 tsp

vanilla extract

salt

1 tbsp

milk or cream

1 cup

caramel (see Note)

1/2 cup

peanuts