Yearly inflation reaches highest surge in 30 years

National and World

(WEHT) – The Consumer Price Index which shows how much we pay for everyday goods and services jumped by over 6% in October compared to the same time last year. That’s the largest 12 month increase since November of 1990.

Congressman Larry Bucshon released the following statement on the surge:

“Inflation rose at a rate not seen in the US in 30 years last month, leaving Hoosiers with costs that are over 6.2% higher than this time last year. This news comes just weeks before Hoosiers gather to celebrate Thanksgiving, which is already expected to be the most expensive in the history of the holiday. Congress should be working together to address this, rather than furthering the problem by spending trillions of dollars on completely partisan priorities. If Speaker Pelosi, Congressional Democrats, and President Biden continue to shell out trillions of dollars in government spending like they are planning, we will all continue to pay the price.”

Congressman Larry Bucshon

Economists say supply chain issues and a shortage of workers accepting low-wage jobs have added to the mounting inflation fears among policymakers.

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