Inflation spikes as prices surge 6.2 percent, most in over 30 years

Inflation continued to surge last month — with prices rising more than expected and at the fastest pace in more than 30 years as companies grapple with a snarled supply chain and a nationwide labor shortage, the feds announced Wednesday.

The Labor Department’s Consumer Price Index, which measures a basket of goods and services as well as energy and food costs, jumped 6.2 percent in October from a year earlier.

That’s up from September’s 5.4 percent year-over-year rise in prices and is the biggest 12-month rise since 1990.