Financial Insights

Fastest inflation in 31 years puts more heat on Washington

Fastest inflation in 31 years puts more heat on Washington.

Consumer prices surged at the fastest pace in more than three decades in October as fuel costs picked up, supply chains remained under pressure and rents moved higher β€” worrying news for economic policymakers at the Federal Reserve and for the Biden White House. Overall prices rose by 6. 2% over the past 12 months, the fastest pace since 1990, and inflation began to accelerate again on a monthly basis.

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