US inflation at highest in three decades

At 6.2%, rate underscores pressures on country's rebounding economy

US consumers are facing the highest inflation since 1990, with the key rate climbing to 6.2 percent in October, driven by surges in food, gas and housing costs, government data showed on Wednesday. Supply shortages and strong demand also played a role.

The year-over-year increase in the consumer price index exceeded the 5.4 percent rise in September, the Bureau of Labor Statistics reported. From September to October, prices jumped 0.9 percent, the highest month-over-month increase since June.

Excluding the volatile food and energy categories, the so-called core prices rose 0.6 percent from September to October in the United States. Core prices are now up 4.6 percent compared with a year ago.