Prices rose faster than expected in October, and the timing is what turned a routine report into the biggest money story of the week. The Bureau of Labor Statistics reported on Tuesday, November 10 that the Consumer Price Index rose 0.4 percent in October, above the 0.3 percent economists had forecast, while core prices, which strip out food and energy, rose 0.3 percent for the third month in a row, above the 0.2 percent forecast, according to Reuters and Bloomberg reporting on the release. Hours earlier that same morning, Federal Reserve Governor Christopher Waller had told an audience in London what a core reading at that level would mean to him. The report landed exactly on his line.
