US consumer prices up 6.2% in October, highest in 3 decades

ANKARA

US consumer prices rose 6.2% in October on an annual basis, much higher than estimates and it marked the largest 12-month increase since November 1990, according to the US Labor Department on Wednesday.

The Consumer Price Index (CPI), which measures changes in the price of goods and services from a consumer perspective, was expected to increase 5.8% last month after it rose 5.4% in September.

In October, the CPI rose 0.9% from the previous month, also coming in higher than the market consensus of a 0.6% monthly increase. The CPI rose 0.4% the previous month.

The food index rose 0.9% in October, while the energy index increased 4.8% and the gasoline index soared 6.1%. On an annual basis, they were up 5.3%, 30% and 49.6%, respectively.

Core consumer prices, which exclude food and energy, rose 0.6% in October from the previous month when it increased 0.2%.

Core CPI jumped 4.6% year-on-year, marking the largest 12-month increase since the period ending August 1991, according to the Labor Department.

ANKARA

The Consumer Price Index (CPI), which measures changes in the price of goods and services from a consumer perspective, was expected to increase 5.8% last month after it rose 5.4% in September.

In October, the CPI rose 0.9% from the previous month, also coming in higher than the market consensus of a 0.6% monthly increase. The CPI rose 0.4% the previous month.

The food index rose 0.9% in October, while the energy index increased 4.8% and the gasoline index soared 6.1%. On an annual basis, they were up 5.3%, 30% and 49.6%, respectively.

Core consumer prices, which exclude food and energy, rose 0.6% in October from the previous month when it increased 0.2%.

Core CPI jumped 4.6% year-on-year, marking the largest 12-month increase since the period ending August 1991, according to the Labor Department.