Inflation across a broad swath of products that consumers buy every day was even worse than expected in October, hitting its highest point in more than 30 years, the Labor Department reported Wednesday.
The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% from a year ago. That compared with the 5.9% Dow Jones estimate. Annual core inflation ran at a 4.6% pace, compared with the 4% expectation and the highest since November 1990.
Fuel oil prices soared 12.3% for the month, part of a 59.1% increase over the past year. For the full CNBC story, click here.
