There’s no end in sight for higher prices. US consumer price inflation surged higher again in October, the Bureau of Labor Statistics reported Wednesday.
Over the past 12 months, prices climbed 6.2% — the biggest increase since November 1990.
Stripping out food and energy prices, which tend to be more volatile, the index rose 4.6% over the same period, the biggest jump since August 1991.
The overall price index rose 0.9% in October alone, adjusted for seasonal swings, significantly more than the 0.6% economists had predicted, and overshadowing the somewhat more tepid 0.4% increase from September.
Last month’s price jumps came on the back of increases in multiple categories, including energy, shelter, food and cars.
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