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

U.S. inflation likely hit a three-decade high in October, pushed up by pandemic-related supply shortages and continued strength in consumer demand.

Economists surveyed by The Wall Street Journal estimate the Labor Department will report the consumer-price index—which measures what consumers pay for goods and services—rose 5.9% in October from the same month a year ago. That would mark the fastest pace since 1990 and the fifth straight month in which inflation topped 5%.