U.S. CPI rose by 6.2% in October compared to a year ago
The United States is facing its highest inflation in 30 years the consumer price index which measures prices paid by the typical consumer is up more than six percent. That’s the fastest increase since 1990. The U.S bureau of labor statistics reports that food prices jumped by percent over the last year. Energy up 30 percent that means overall inflation has been running.
Well above the fed’s two percent goal for quite a while treasury secretary said inflation can no longer be categorized as short term. That hasn’t been an apt description of what they are dealing with. The pandemic has contributed in very important ways to the inflation problem that they are facing.