This month's CPI report from the Bureau of Labor Statistics marks a reversal of the inflation measure's slow but steady decline since this spring -- it's the first increase since

Traders of contracts that settle to the Federal Reserve's policy rate moved Wednesday to price in a firmer chance of another quarter-point interest-rate cut at the central bank's meeting next month, after a government report showed consumer inflation rose in October in line with economist expectations.

The Fed is set to lower interest rates a quarter point Thursday. But it's more likely to slow, rather than speed up, 2025 cuts due to inflation

U.S. inflation ticked higher in October, but stable core price pressures and tame month-on-month gains prompted a sigh of relief on Wall Street and likely supported bets for an end-of-year interest rate cut from the Federal Reserve.