US consumer prices in October increased by 6.2%

According to recent statistics, consumer prices in the United States in October rose more than forecasts suggested. This led to the highest annual increase in inflation since 1990.

Thus, inflation in the United States in October amounted to 0.9% on a monthly basis, while analysts predicted growth of 0.6%. Experts also note that inflation may remain high next year against the background of global supply chain problems.

In annual terms, the consumer price index (CPI) increased by 6.2% against the forecast of growth of 5.8%.

Excluding food and energy prices, consumer prices rose by 0.6%, with a growth forecast of only 0.4%. On an annualized basis, the base index grew by 4.6%, the forecast is an increase of 4.3%.

Meanwhile, data on the number of applications for unemployment benefits came out: it fell to 267 thousand, while analysts assumed the figure at the level of 265 thousand. Such figures were the lowest since mid-March 2020.