U.S. October Inflation Report Looms as 82% Fed Hike Odds Build
Updated
Updated · abcnews.com · Nov 10
U.S. October Inflation Report Looms as 82% Fed Hike Odds Build
3 articles · Updated · abcnews.com · Nov 10
Summary
Tuesday’s CPI report will give the first nationwide price snapshot since Democrats’ midterm landslide, with economists expecting October inflation to slow on a monthly basis.
The release will omit the usual year-over-year October reading because the BLS published no inflation report in October 2025 during the government shutdown, leaving September’s 3.7% annual rate as the latest benchmark.
Fuel remains central to the inflation picture: gasoline jumped more than 9% in September and drove over half of that month’s overall price increase, though the recent drop in pump prices below $4 will not show up in October data.
For the Fed, the report lands at a delicate moment after September’s quarter-point hike, with markets pricing an 82% chance of another increase in December and a stronger-than-expected 165,000 October jobs gain reducing concern about labor-market weakness.