October Consumer Prices Jump 6.2%, Biggest Inflation Increase in 30 Years

Consumer prices in October increased by a historic 6.2 percent over the year prior making it the biggest inflation jump in 30 years.

According to data released by the U.S. Bureau of Labor Statistics, Americans also paid 0.9 percent more on daily goods and other items than they did in September.

“Along with shelter, used cars and trucks, and new vehicles, the indexes for medical care, for household furnishing and operations, and for recreation all increased in October,” the report noted.

These rising prices come on the heels of a massive supply-chain crisis fueled by the Biden administration’s lack of action and a nation still recovering from months of shutdowns mandated by politicians who sacrificed economic stability and viability to keep people at home.