Inflationary pressures are growing as US consumer price inflation is the fastest in 31 years.



The U.S. Department of Labor announced on the 10th local time that the consumer price index (CPI) surged 6.2% in October from the same month a year earlier.



It was the largest increase since December 1990 and recorded an increase rate of more than 5% for 6 consecutive months.



This is a result that exceeds the forecast of 5.9% by experts compiled by Bloomberg News.



It rose 0.9% from the previous month and also exceeded the market consensus of 0.6%.



This is the largest increase in the last 4 months.



Excluding energy and food, which has high volatility, the core CPI rose 4.6% from the same month of the previous year and 0.6% from the previous month, respectively.



This year, as consumer demand is recovering, companies have consistently raised consumer prices due to supply chain disruptions and a shortage of manpower in all directions, Bloomberg News analyzed.



This announcement that the higher-than-expected rise in consumer prices continues is likely to deepen the concerns of policymakers who maintain that 'inflation is temporary'.



The US central bank, the Federal Reserve (Fed), recently decided to start reducing asset purchases (tapering), but is showing caution, saying it is not yet time to raise the key interest rate.



However, there are also speculations that if the high inflation rate continues, the Fed will start raising the current 'zero interest rate' sometime next year.



The Personal Consumption Expenditure (PCE) Price Index and the Core PCE Index, which the Fed mainly references, rose 4.4% (YoY) and 3.6%, respectively, in September.