The Biden administration has insisted rising inflation will be mild and temporary. But new data show consumer price inflation rose even more last month to reach the highest level since 1990.
The latest Consumer Price Index released by the Bureau of Labor Statistics Wednesday morning showed prices rose at least 6.2% between October 2020 and October 2021. That’s the largest year-over-year increase in more than 30 years. The CPI reports prices rose nearly 1% in a single month, from September 2021 to October 2021.
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