Consumer Price Index “jumped 0.9% last month,” reported Jeffry Bartash for MarketWatch during the lunch hour today. This pushed “the rate of inflation to a nearly 31-year high ….

Economists polled by The Wall Street Journal had forecast a 0.6% increase.

The pace of inflation over the past year marched to 6.2% in October from 5.4% in the prior month. That’s more than triple the Federal Reserve’s 2% target and is the highest rate since November 1990 ….

Another closely watched measure of inflation that omits volatile food and energy costs rose 0.6% last month. This so-called core rate is closely followed by economists as a more accurate measure of underlying inflation.

The 12-month increase in the core rate climbed to 4.6% from 4% and hit a 30-year peak ….

The cost of gasoline rose 6.1% in October ….

The cost of food climbed almost 1% last month. Grocery prices have climbed 5.3% in the past year ….

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