US Consumer Prices Are Soaring At Their Fastest Rate In 40 Years | ZeroHedge
Tyler Durden
Francesco Abbruzzino, The Uncensored Report, LLC
JUST IN – Democratic Senator Manchin: Threat posed by record inflation to the American people is not "transitory" and is instead getting worse.
— Disclose.tv (@disclosetv) November 10, 2021
Following yesterday’s US PPI print at record highs, overnight we saw Chinese producer prices rising at their fastest pace in 26 years, and this morning’s US consumer price data was expected to show yet another non-transitory surge in inflation… but the actual surge was far bigger than expected.
US Consumer prices soared 6.2% YoY in October, far higher than the +5.9% YoY expected and accelerating from September’s 5.4% YoY; that was the highest print since June 1982…
On a sequential basis, the 0.9% surge in CPI was driven in equal parts by reopening and non-reopening components, suggesting that the post-Covid shift to persistent inflation is picking up pace.