Inflation spiked in October, sinking Washington’s hopes that price gains would slow down.

The Consumer Price Index rose 6.2 percent in October from a year ago, its fastest increase since 1990. That is bad news for President Biden and the central bank., The Consumer Price Index rose 6.2 percent in October from a year ago, its fastest increase since 1990. That is bad news for President Biden and the central bank.

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