US prices increasing more than they have in 30 years

Prices going up across the board

U.S. (KYMA, KECY/CNN) - The Bureau of Labor Statistics has reported how the average United States consumer price inflation has increased again in October.

Prices have surged by at least 6.2% over the past 12 months which are numbers not seen since 1990.

Adjustments are constantly being made as energy, shelter, food and cars are accounted for, with food prices rising nearly 1% for a couple of months in a row.

Energy costs have seen the most significant increase, jumping to over 30% in the past year.

The COVID-19 pandemic is another factor of supply and demand, adding in shortages for raw materials and issues at ports globally.

Experts believe stimulus funds have only made inflation worse by making an immediate financial surge for the average household, leading to more demand.

President Joe Biden and his Administration have stated that these increased prices are only temporary.

"Inflation hurts Americans pocketbooks, and reversing this trend is a top priority for me," stated President Biden.

Consumers should expect a more expensive holiday season than usual, but hopeful that a price decrease can happen over time.