U.S. Inflation Reached 30-Year High in October

U.S. inflation hit a three-decade high in October—rising at a 6.2% annual rate—as pandemic-related supply shortages and continued strength in consumer demand continued to push up prices.

The Labor Department said the consumer-price index, which measures what consumers pay for goods and services, increased at the fastest annual pace since 1990. Inflation also topped 5% for the fifth straight month.

Consumer-price index, percent change from​a year earlierSource: Labor Department

The so-called core price index, which excludes the often-volatile categories of food and energy, in October climbed 4.6% from a year earlier,...