U.S. consumer prices rose 6.2% from October 2020 to October 2021, marking the fastest inflation growth since 1990…

The consumer price index (CPI) rose 0.9% in October, which was 0.6% higher than analysts expected. Most of the rising CPI price can be attributed to volatility in energy prices, which rose 30% YoY. However, even if you strip away the volatile food/energy costs and look at Core CPI (which measures different figures), analysts still lowballed expectations.

Millions of Americans who have come to appreciate wage hikes are now seeing inflation take a bite out of those gains, leaving many Americans in an even more diminished financial state than before the pandemic. That’s definitely not good (because the CPI is not necessarily representative of working class people’s actual costs and living expenses.)

Inflation growth is little surprise to anyone who reads business news, for that matter. The fabled “transitory inflation” is starting to sound more like a legit problem as opposed to a nuisance.