THE TRUE GRINCH

Inflation Surges by Largest Amount in More Than 30 Years Just Before Holidays

Some of the items impacted include gas and energy prices, and groceries.

Consumer prices rose 6.2 percent from a year ago, the largest annual increase in more than 30 years and a sign that inflation could be the true spoiler of the holiday season. According to the Bureau of Labor Statistics, overall prices rose 0.9 percent in October, a significant increase from September’s 0.4 percent and August’s o.3 percent. Some of the items most impacted by the price increases include gas and energy, new and used cars, medical care, and groceries. Inflation isn’t the only contributor; the national supply chain increase is also a factor in wallet-pinching, according to the bureau. There is some solace for those who want to escape the economic crisis, however, particularly those eager for a drink in hand—airline tickets and alcoholic beverages have seen price drops in a month-to-month measurement.