That matched forecasts from economists polled by FactSet that the Consumer Price Index rose 2.6% in October. The CPI rose 2.4% in September, when the Fed ushered in a jumbo rate cut of 0.5 percentage points, followed by a second rate cut this month.

The Federal Open Market Committee is meeting today, tomorrow, and again in December. After making a larger half-percent cut in September, the Fed indicated that it intended to make another half-percent cut by the end of the year. Most experts expect a quarter-percent cut at each meeting, but what about 2025?

Consumer Price Index inflation increased 0.2% in October for an un-adjusted annual rate of 2.6%, meeting expectations, according to the Bureau of Labor Statistics.

Inflation rose slightly in October in line with economists' expectations, as the consumer price index was up 2.6% from a year ago and 0.2% compared with last month.

The Labor Department on Wednesday reported that consumer prices in October rose 2.6% from a year earlier. That marks a pickup in the pace of inflation from September, when prices were up 2.4% on the year.

As expected by economic forecasters, inflation heated up in October. The consumer price index sped up as expected to a 2.6% year-over-year growth rate in October from September's rate of 2.4%. Inflation had been cooling down for most of 2024.

A fresh Consumer Price Index report could show that inflation, much cooler than in 2022 and 2023, is not fully stamped out.

Even as inflation has slowed, that progress hasn't reversed a leap in prices that dates back to the pandemic. Since President Joe Biden took office in 2021, consumer prices have s