US inflation rose 0.4% in October as price increases cooled and gas costs dipped

AI desk brief

US CPI rose 0.4% in October versus 0.6% in September, while gasoline prices eased; the BLS omitted the year-over-year figure because October 2025 data were not collected during the shutdown. The Fed raised rates in September, its first increase since 2023, and the report says another hike is expected in December. Further tightening could pressure gold if it lifts expected real yields, although slower monthly inflation provides a counterweight to tightening expectations. The report attributes elevated inflation mainly to Iran-war energy costs and cautions that the speed and effectiveness of rate hikes in easing those pressures remain unclear.