Breaking: Inflation Surges in October, Surpassing 31-Year High

Consumer prices spiked at their fastest pace in more than 30 years last month, the Labor Department reported Wednesday.

The consumer price index increased 6.2 percent from a year ago, according to the Department. The rise in the consumer price index — a measure of the average change over time in the prices paid by consumers for products including gasoline, health care, groceries and rents — came in above the Dow Jones estimate of 5.9 percent.

Meanwhile, the index jumped 0.9 percent on a monthly basis, also higher than the 0.6 percent estimate.

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Inflation Surges in October, Surpassing 31-Year High

The consumer price index increased 6.2 percent from a year ... READ MORE

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