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Consumer prices soar again and push rate of inflation to 31-year high, CPI shows – MarketWatch

Consumer prices soar again and push rate of inflation to 31-year high, CPI shows – MarketWatch



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  1. tldr; The US Consumer Price Index (CPI) jumped 0.9% in October to hit a nearly 31-year high of 6.2% from 5.4% in the previous month, the government said on Wednesday. This is the highest rate of inflation since November 1990. The inflation rate is more than double the Federal Reserve’s 2% target and is likely to put pressure on the central bank to slow the pace of interest rate hikes.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

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