Prices rose 6.2% year over year in October and probably will get worse, before better …
Under Biden Consumer Prices Surge by Most in 31 Years
FOX News reports:
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.
“Inflation is broadening out,” said Greg McBride, chief financial analyst at Bankrate. “In addition to food, energy, and shelter continuing to post outsized monthly increases, new and used car prices are once again shifting into overdrive.”
The Gateway Pundit reports in this video: