Tomorrow's CPI report won't have a yearly inflation rate. Not a low one or a high one. None. BLS never collected October 2025 prices during the shutdown, so there's nothing to compare against. That puts the whole spotlight on the monthly number. Forecasters expect core around 0.2% after 0.3% in September. With traders pricing roughly an 80% chance of a December hike, one tenth of a point is the whole story.
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