US Inflation Hit , 30-Year High in October.
On November 10, the United States
Labor Department released data showing that
consumer prices have continued to rise at an alarming rate.
ABC reports that the Consumer Price Index
rose 6.2% since this time in 2020, the largest
annual increase since November 1990.
The "core index," which includes most consumer goods except food and energy, rose 4.6%, the largest
12-month increase since August 1991. .
The "core index," which includes most consumer goods except food and energy, rose 4.6%, the largest
12-month increase since August 1991. .
The cost of gasoline went up for the fifth consecutive month, rising 6.1%. .
The Department of Labor said that
sharp price increases were seen for
food, shelter, energy and transportation. .
According to ABC, supply chain disruptions
and a worker shortage has added
to policymakers' concerns about inflation. .
According to ABC, supply chain disruptions
and a worker shortage has added
to policymakers' concerns about inflation. .
President Joe Biden reportedly said that inflation was a "top priority" for his administration.
Other price increases reflect the ongoing
struggle to restore smooth operations
in the economy in the restart:
I am traveling to Baltimore today
to highlight how my Infrastructure Bill
will bring down these costs, reduce
these bottlenecks, and make goods
more available and less costly, Joe Biden, United States President, via ABC.
Other price increases reflect the ongoing
struggle to restore smooth operations
in the economy in the restart:
I am traveling to Baltimore today
to highlight how my Infrastructure Bill
will bring down these costs, reduce
these bottlenecks, and make goods
more available and less costly, Joe Biden, United States President, via ABC.
And I want to reemphasize my commitment
to the independence of the federal reserve
to monitor inflation, and take steps
necessary to combat it, Joe Biden, United States President, via ABC