Core CPI rose by 0.3% in October, which is 0.2 points below expectations, and down from 0.6% last month. It's now running at 6.3% over the year down from 6.6%.
This is a very encouraging inflation report. There's a good chance that inflation has peaked, and is now turning down.
www.cnbc.com
This is a very encouraging inflation report. There's a good chance that inflation has peaked, and is now turning down.
![www.cnbc.com](https://image.cnbcfm.com/api/v1/image/106985532-1638887767520-gettyimages-1356845318-dscf9230_2021120243108918.jpeg?v=1704744504)
Dow pops 1,200 points, S&P 500 jumps 5% in biggest rally in two years after light inflation report
October's CPI data came in lighter than expected, raising hopes of peaking inflation.