US Inflation Hit 30-Year High in October
US Inflation Hit 30-Year High in October
US Inflation Hit , 30-Year High in October.
On November 10, the United States Labor Department released data showing that consumer prices have continued to rise at an alarming rate.
ABC reports that the Consumer Price Index rose 6.2% since this time in 2020, the largest annual increase since November 1990.
The "core index," which includes most consumer goods except food and energy, rose 4.6%, the largest 12-month increase since August 1991.
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The "core index," which includes most consumer goods except food and energy, rose 4.6%, the largest 12-month increase since August 1991.
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The cost of gasoline went up for the fifth consecutive month, rising 6.1%.
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The Department of Labor said that sharp price increases were seen for food, shelter, energy and transportation.
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According to ABC, supply chain disruptions and a worker shortage has added to policymakers' concerns about inflation.
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According to ABC, supply chain disruptions and a worker shortage has added to policymakers' concerns about inflation.
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President Joe Biden reportedly said that inflation was a "top priority" for his administration.
Other price increases reflect the ongoing struggle to restore smooth operations in the economy in the restart: I am traveling to Baltimore today to highlight how my Infrastructure Bill will bring down these costs, reduce these bottlenecks, and make goods more available and less costly, Joe Biden, United States President, via ABC.
Other price increases reflect the ongoing struggle to restore smooth operations in the economy in the restart: I am traveling to Baltimore today to highlight how my Infrastructure Bill will bring down these costs, reduce these bottlenecks, and make goods more available and less costly, Joe Biden, United States President, via ABC.
And I want to reemphasize my commitment to the independence of the federal reserve to monitor inflation, and take steps necessary to combat it, Joe Biden, United States President, via ABC