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U.S. INFLATION HIT 31-YEAR HIGH IN OCTOBER AS CONSUMER PRICES JUMP 6.2%


CORE INDEX WAS UP 4.6% AS PANDEMIC-RELATED SUPPLY SHORTAGES, STRONG CONSUMER
DEMAND CONTINUE

What the Inflation of the 1970s Can Teach Us Today
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The U.S. inflation rate reached a 13-year high recently, triggering a debate
about whether the country is entering an inflationary period similar to the
1970s. WSJ’s Jon Hilsenrath looks at what consumers can expect next.
By
Gwynn Guilford
Close


GWYNN GUILFORD

 * Biography
 * @sinoceros
 * gwynn.guilford@wsj.com

Updated Nov. 10, 2021 6:57 pm ET

Print

Text



U.S. inflation hit a three-decade high in October, delivering widespread and
sizable price increases to households for everything from groceries to cars due
to persistent supply shortages and strong consumer demand.

The Labor Department said the consumer-price index—which measures what consumers
pay for goods and services—increased in October by 6.2% from a year ago. That
was the fastest 12-month pace since 1990 and the fifth straight month of
inflation above 5%.

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