Inflation Surges To 31-Year High of 6.2% In October, Testing Fed
Inflation in the US, as measured by the Consumer Price Index (CPI), surged to 6.2% on a yearly basis in October from 5.4% in September, the US Bureau of Labor Statistics reported on Wednesday. This print surpassed the market expectation of 5.3% by a wide margin. Further details of the publication revealed that the annual Core CPI, which excludes volatile food and energy prices, rose to 4.6% in the same period, compared to the market expectation of 4%. U.S. consumer price inflation accelerated to the fastest pace in three decades last month, data from the Bureau of Labor Statistics indicated Wednesday, as record-high energy prices and supply chain disruptions continue to test the Federal Reserve’s ‘transitory” narrative. SHIT!! Remember this is October… The skyrocketing prices are still climbing………. The FED is so fucked…..