Inflation

The consumer price index, a key inflation barometer, jumped 7.7% in October versus a year ago. It rose 0.4% during the month. Both were cooler than expected ...

is [in a housing recession](https://www.cnbc.com/2022/09/09/housing-market-confusion-whats-happening-next.html). [a primary irritant](https://www.cnbc.com/2022/10/13/heres-the-inflation-breakdown-for-september-2022-in-one-chart.html) for many Americans earlier in the year. But on the global stage, inflation first showed up in the U.S., Hunter said. Monthly increases came from shelter, motor vehicle insurance, recreation, new vehicles and personal care, according to the BLS. An NBC News poll issued last weekend found 81% of respondents were either somewhat dissatisfied or very dissatisfied with the state of the economy — a level [unseen since the 2010 midterms](https://www.cnbc.com/2022/11/07/midterm-elections-2022-live-updates-biden-obama-clinton-rally-for-democrats.html). Core inflation was 6.6% in September, the largest 12-month increase since August 1982. Core inflation was up 6.3% in October over a year ago; the index rose 0.3% during the month versus 0.6% in September. Shelter prices increased in October, jumping 0.8% from September — the largest monthly increase in that category since August 1990, according to the BLS. That's an improvement from 13.5% in August, which was the "For the past year to 18 months, we've seen a lot of 0.4%, 0.5%, 0.6%," Hunter said. "Those are three categories that continue to drive these high levels of inflation." Basically, a basket of goods and services that cost $100 a year ago costs $107.70 today.