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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.
