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The Biden Inflation Surges 6.2% in October, Highest Rate in 30 Years

Inflación interanual se dispara hasta el 6,2 % en octubre

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[Leer en español]

The annual inflation rate surged in October to 6.2% — eight tenths above that of September — which is the highest record of consumer prices in the country since 1990, the Bureau of Labor Statistics reported Wednesday.

Consumer prices rose nine-tenths in a month according to the latest data.

Last month’s figure surprised most analysts who expected an annual inflation rate of 5.7%.

Excluding food and fuel prices, which are the most volatile, core inflation in October was 0.6%, with an annual rate of 4.6%.

Energy prices rose by 4.8% in October and food prices rose by 0.9%, according to the government report.

In particular, prices paid by consumers for gasoline increased by 6.1% last month and are up 49.6% in a year.

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