U.S. inflation surges; jobless claims decline
The Hindu
The consumer price index rose 0.9% last month after gaining 0.4% in September, the Labor Department said on Wednesday.
U.S. consumer prices increased more than expected in October as the cost of gasoline and food surged, leading to the biggest annual gain since 1990, further signs that inflation could remain uncomfortably high well into next year amid snarled global supply chains.
The consumer price index rose 0.9% last month after gaining 0.4% in September, the Labor Department said on Wednesday. In the 12 months through October, the CPI accelerated 6.2%. That followed a 5.4% jump in September.
In another report, the Labor Department said initial claims for unemployment benefits fell to a seasonally adjusted 2,67,000 for the week ended Nov. 6.
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