US records highest CPI inflation rise since 1990
NY Fed detects slight rise in short-term consumer inflation expectations as real wages fall
The US Bureau of Labor Statistics reported the biggest increase since 1990 in year-on-year consumer price index (CPI) inflation on November 9. CPI inflation reached a year-on-year rate of 6.2% in October.
Prices rose by 0.9% in October from the previous month, the BLS said.
Sharply rising energy prices drove the overall index upwards. Energy prices overall rose year-on-year by 30% in October 2021, the largest such rise since 2005. Gasoline prices rose nearly 50% over the year-long period, and
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