JUST IN: Progress on inflation stalled in October. Inflation rose to 2.6% (y/y), up from 2.4% in September, due to a rise in rent and used car prices. Gas prices did fall, but not enough to offset the gains.
“Core inflation” (excluding food and energy) remained at 3.3% in October.
Inflation is still likely to cool off more, but there will be bumps. And there’s concern about Trump’s tariff plans.