It’s unclear when supply chains will clear, especially given how vulnerable the economy remain to the pandemic
Data released Wednesday by the Bureau of Labor Statistics showed that prices rose 0.9 percent in October compared with September, a higher-than-expected jump, tying June for the biggest one-month increase in prices this year.
Forecasters expected a surge in October’s inflation data, in large part because of soaring gas and energy prices, plus ongoing supply chain backlogs in the used-car market. The energy index rose 4.8 percent in October compared to the month before, as the gasoline index increased 6.1 percent.
Yet, inflation expanded to other categories, increasing throughout the economy, with the BLS noting “broad-based” higher prices for energy, shelter, food, used cars and trucks and new vehicles among the larger contributors.
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