Prices are shooting higher.

Consumer prices in the U.S. posted their biggest jump in nine months in October.

They rose 0.3 percent last month, or 2.5 percent over the last 12 months.

A sharp rebound in the price of gasoline accounted for more than a third of the increase in the Consumer Price Index.

Rising rents also contributed.

Excluding the volatile food and energy components, the so-called "core" inflation increased 2.1 percent over the last 12 months.

Driving up inflation pressures: very low unemployment and strong domestic demand.

The data sent Treasury yields higher.

The steady rise in inflation will likely keep the Federal Reserve on track to hike interest rates in December for a fourth time this year.