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Economy

Consumer prices surge by most in 31 years

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Prices rose 6.2% year over year in October

By Jonathan Garber

FOXBusiness

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.

Click the link below to read the rest of this story.

https://www.foxbusiness.com/economy/consumer-price-index-october-2021

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