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Consumer Price Index ( CPI )

US inflation is expected to edge up to 2.6% in October 2024, marking the first increase in seven months after hitting a low of 2.4% in September. Key drivers include rising used-car prices, hurricane-driven increases in shelter and insurance, and higher airfares, while clothing, groceries, and gasoline are likely to ease, with gas prices set to hit a nine-month low. Core inflation, however, is expected to hold steady at 3.3%, reflecting balanced pressures in the economy. This shift could signal a turning point in inflation dynamics for the months ahead.