Inflation in the United States in October 2021 accelerated to 6.2% on an annualized basis, according to data from the US Department of Labor. This is the highest figure since December 1990.
The growth rates of prices in October were higher than the expectations of analysts at Dow Jones (5.9%). On a monthly basis, prices for this period increased by 0.9% against the forecasted 0.6%. For comparison, in September this figure was 5.4%.
Fuel prices jumped 12.3% in October, up 59.1% since October last year. Electricity rose in price by 4.8% per month and 30% per year, food – by 0.9% and 5.4%, respectively. Inflation has not spared the car market either: prices for used cars increased by 2.5% in October and 26.4% over the past year, for new cars – by 1.4% and 9.8%.
The Federal Reserve System (FRS) said on November 3 that the price hike would be temporary, but acknowledged that inflationary pressures have lasted longer than expected. The regulator began to cut the quantitative easing program and for the thirteenth time in a row kept the base rate at the level of 0-0.25% per annum.
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