The Labor Department says the consumer price index jumped 6.2% in October compared to last year.
EDGEWATER, N.J. (CBSNewYork) — The cost of living is on the rise. The Labor Department says the consumer price index jumped 6.2% in October compared to last year. It’s the highest inflation rate in 31 years. “Every week I come here, I just spend more and more and more and more. The food stuff is out of control,” senior Miriam Foreman, of North Bergen, told CBS2’s Vanessa Murdock. “We were expecting a quick pace of inflation, not this fast,” CBS News business analyst Jill Schlesinger said. “One of the big drivers in the increase over the year is the price of gasoline,” said Martin Kohli, chief regional economist for the U.
