Rachel Siegel, Andrew Van Dam, and Laura Reiley of The Washington Post report on the largest rise in consumer prices in 30 years. The growth in October prices reported Wednesday by the Bureau of Labor Statistics (BLS) was driven by soaring energy prices and ongoing supply chain backlogs, such as those in the used-car market. Gasoline prices are up 49.6 percent from a year earlier, and higher energy costs are pushing up the prices of just about every other good, economists say, pinching an already strained supply chain. A surge that began in narrow sectors now appears to be spreading throughout the economy, with the BLS noting “broad-based” higher prices propelled by not just energy and used cars, but also by shelter, food and new vehicles. Prices for medical care, household furnishing and operations, and recreation all increased in October. Overall prices rose 0.9 percent from September to October, tying June for the biggest one-month increase since the Great Recession. Only a few categories saw prices fall last month, including airfare and alcohol. The data underscores how inflation has emerged as a controversial political and economic issue during the pandemic era. For years, inflation remained tamely below the Federal Reserve’s 2 percent annual target and off politicians’ radar. But the clash of supply chain backlogs, labor shortages, and ongoing uncertainty amid a public health crisis has turned inflation into a crucial test for policymakers and economists — and it’s unclear when that will change. Read more