The Consumer Price Index, the most broadly used gauge of inflation, rose at the same rate as in September, which was the steepest rise since a 0.7 jump in May, according to the Labor Department report.
But core prices, which strip out volatile energy and food costs, rose a more modest 0.2 percent in October, also in line with expectations.
Consumer prices were 3.5 percent higher than a year ago, the biggest 12-month increase since August 2006, when they rose 3.8 percent, a Labor Department official said. Core prices were up 2.2 percent on a year-on-year basis.
So far this year, prices have climbed by a seasonally adjusted annual rate of 3.6 percent, driven by higher food and energy costs. That compares with a 2.5 percent gain in all of 2006.
Energy costs have surged at a 12.3 percent annual rate this year, more than four times higher than the 2.9 percent gain in all of last year. Food prices increased at a 5.5 percent annual rate in 2007, compared with a 2.1 percent rise in 2006.