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Inflation Builds With Biggest Gain in Consumer Prices Since 1990

Published 11/10/2021, 08:31 AM
Updated 11/10/2021, 08:36 AM
© Reuters.  Inflation Builds With Biggest Gain in Consumer Prices Since 1990

© Reuters. Inflation Builds With Biggest Gain in Consumer Prices Since 1990

(Bloomberg) -- Prices paid by U.S. consumers accelerated in October from a year earlier by the most since 1990, exceeding forecasts and adding to evidence of building inflationary pressures as companies find more success in passing on higher costs.

The consumer price index increased 6.2% from October 2020, according to Labor Department data released Wednesday. The CPI rose 0.9% from September, the largest advance in four months. 

The median estimate in a Bloomberg survey of economists called for a 5.9% gain from a year earlier in the overall CPI and a 0.6% increase from the prior month.

Against a backdrop of solid demand, businesses have been steadily raising prices for consumer goods and services at the same time supply chain bottlenecks and a shortage of qualified workers drive up costs. Many economists, including some at the Federal Reserve, expect those price pressures to persist into next year, keeping inflation elevated. 

A report on Tuesday showed prices paid to U.S. producers also accelerated last month, largely due to higher goods costs, and adding to concerns about persistent price pressures across the globe. In China, inflation at the factory level last month increased by the most in 26 years, while consumer prices in Brazil sped up by more than forecast.

©2021 Bloomberg L.P.

Latest comments

bearish for stocks
have a plan to make money on this event.  silver is the only asset that has not reached its 1980 high.  the only one.   good luck to all
Silver is insanely manipulated by jp morgan and other institutions and others with very large short positions to contain price of silver for manufacturing purposes. Maybe a short squeeze will happen
silver only hit $50 in the 1980s because the Hunt brothers took delivery of enough futures to account for over 10% of the world's physical silver. unless there is another powerhouse doing exactly this, I highly doubt silver would hit 50 again. I will also note paper is arguably the most manipulated market in the world. there are reasons why silver has not hit the price previously hit in the 80s
80%***
At this rate I will become a vegan lol
Hello friends, help me to buy. Tell me how to buy?
Buy when the price is oversold!
j Powell earned his 2nd t yet?
it means the USD will start to fall.
lol, "start"
usd fell from 20 to 21. traders are now bidding up usd because of the inevitable rate increase in 22.
hello
great comment..Hi
Just today I noticed my natural gas usage/cost was up big time. I checked the cost for nat gas (consumers power) and it is now over DOUBLE the cost in March of this year. UN-sustainable.
propane shortages in colorado and arizona and elsewhere
there are serious propane shortages in colorado and arizona and many other states
lol there is a big difference between 6% inflation and 1000% inflation (as in hyperinflation scenario)
it is just transitory, it will go away......someday
Wow donald trump was right
just transitory. it will go away soon
Never … you will see the greatest market of all times Joe biden is incompetent
define "soon". fed notes suggest inflation will fall off a cliff over the next 4 months, whereas fortune 500 ceo's expect inflation to last through 2022, if not longer which is most likely why the fed added "expected" to transitory and why biden no longer even says transitory when talking about inflation. you need to ask yourself, who do you belive, the fed with their models that have failed to continously predict inflation? or fortune 500 ceo?
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