America’s prices are surging more than they have in 30 years
Spencer Platt/Getty Images

America’s prices are surging more than they have in 30 years

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.

This is a developing story. It will be updated

The-CNN-Wire
™ & © 2021 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.