Thursday, December 9

Why inflation in the United States soared to its highest level in 30 years (and what consequences it may have)

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  • BBC News World

American consumers outside a supermarket

Image source, Getty Images


US inflation in October rose 6.2%.

The cost of living for Americans has skyrocketed.

The year-on-year inflation rate in October was 6.2%, the highest figure in the country in 30 years, the US Bureau of Labor Statistics reported on Wednesday.

The food, fuel, cars and housing are some of the products whose price increase drove this historical record.

Rising inflation has been a growing concern for consumers who they see their purchasing power diminish.Products such as meat, fish and eggs rose more than other foods, while gasoline prices they reached their highest levels in the last seven years.

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