Americans are paying higher prices for groceries, gas and holiday gifts, yet many are living and spending as if it isn’t happening.
The U.S. consumer-price index hit a 31-year high in October, as the price paid for goods and services rose 6.2% from a year ago, according to the Labor Department. The index is a gauge of inflation, largely measuring how much it costs an individual to pay for everything they need in their lives.
