What to Watch in the CPI Report: Did Inflation Heat Up or Cool Down Last Month?
Americans paid less for gasoline last month, helping keep inflation in check, but underlying price pressures remained steady in October, analysts estimate. Such an outcome would leave inflation elevated and reflect why the Federal Reserve isn’t declaring an end to its historic campaign of interest-rate increases. Economists surveyed by The Wall Street Journal estimate consumer prices rose 0.1% in October from the prior month and 3.3% from a year earlier. That would represent a slowdown from September’s 0.4% monthly rise and 3.7% yearly increase. Those economists also think so-called core prices, which exclude volatile food and energy items, rose 0.3% in October from the prior month and 4.1% from a year earlier. The monthly gain would be roughly the same as in September and August and fast...
