US consumer prices jumped in October at the fastest pace in three decades, as bottlenecks and other supply-chain disruptions intensified and inflationary pressures spread further throughout the economy.
The consumer price index published by the Bureau of Labor Statistics on Wednesday rose 6.2 per cent in October from a year ago — the fastest annual pace since 1990 and a sharp increase from September’s levels of 5.4 per cent.
Month-over-month price gains accelerated sharply, with a jump of 0.9 per cent reported in a significant pick-up from the August to September period, when prices rose 0.4 per cent.
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