Inflation rose strongly in October, accelerating at its fastest pace since the early 1990s, according to a Commerce Department gauge that is closely followed by Federal Reserve policymakers.
Prices for personal consumption expenditures excluding food and energy increased 4.1% from a year ago, with the so-called core reading last up that much in January 1991. The Fed prefers that measure as it excludes the volatility that the two categories can show.
The reading matched the Dow Jones estimate.
Including food and energy, the PCE index rose 5%, the fastest gain since November 1990.
