The U.S. Annual CPI Inflation Jumps in October

Inflation in the US, as measured by the Consumer Price Index (CPI), surged to 6.2% on a yearly basis in October from 5.4% in September, the US Bureau of Labor Statistics reported on Wednesday, surpassing the market expectation of 5.3% by a wide margin. The annual Core CPI, which excludes volatile food and energy prices, rose to 4.6% in the same period, compared to the market expectation of 4%.