The Bureau of Labor Statistics will release the October CPI report on Tuesday, November 10 at 8:30 am Eastern Time. The report will look different this month due to the government shutdown.
Because the BLS did not collect price data in October 2025 during the shutdown, it will not publish year-over-year inflation rates. Headline CPI is expected to rise 0.3% month over month, while core CPI is forecast to rise 0.2% month over month.
Wall Street economists project gasoline prices will moderate after September's spike, though their expectations vary slightly. Wells Fargo estimates headline CPI rose 0.28% in October and core CPI rose 0.21%. UBS projects headline CPI at 0.26% and core CPI at 0.23%. Barclays forecasts both headline and core inflation rose 0.3% m/m. RBC Economics expects headline CPI at 0.3% and core CPI at 0.2%.
Most economists note that energy price increases likely contributed less to October's inflation than September's 0.39 percentage point contribution. Core goods categories such as apparel, toys, and household furnishings are expected to show slower increases than in September.
The Federal Reserve held rates unchanged in late October, stating that "inflation remains elevated" but that "more information" is needed to determine the right policy path. The central bank's next policy decision comes on Wednesday, December 9. Several economists expect another rate hike in December.