Prices rose 6.2% year over year in October
By Jonathan Garber
U.S. consumer prices accelerated at the fastest annual pace in more than 30 years as supply chain bottlenecks and materials shortages persisted and gasoline prices surged.
The consumer price index climbed 6.2% year over year in October, the Labor Department said. The increase marked the largest annual gain since November 1990. Prices rose 0.9% month over month.
Analysts surveyed by Refinitiv were expecting prices to rise 0.6% in October and 5.8% annually.
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