Will US consumer price growth reach the highest level since 1990?
US consumer price growth is forecast to accelerate once again in October, ending a streak of more modest increases and reinforcing concerns that high inflation will persist for much longer than anticipated.
Consumer prices are expected to have risen 5.8 per cent from the same month a year ago, Wall Street economists predicted ahead of a release on Wednesday from the Bureau of Labor Statistics. That would mark a step up from the 5.4 per cent pace recorded in September and be the highest level since 1990.
Consensus forecasts compiled by Bloomberg suggest prices jumped 0.6 per cent on a month-over-month basis. Between August and September, they rose 0.4 per cent.
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