Inflation likely took a breather last month as fuel prices fell

Americans are tired of inflation, as last week’s election results showed, but there may have been some relief last month as gasoline, diesel and jet fuel prices eased.

The consumer price index, which is scheduled for release at 8:30 a.m. ET on Tuesday, is expected to show an increase of 0.3% month-over-month, according to a survey of economists conducted by Bloomberg. Economists also project that so-called core inflation, which does not include food or energy prices, rose 0.2%.

In September, the CPI report showed prices grew 0.6% from August along with a 3.7% increase from a year earlier. (The October data will not contain a year-ago number after the U.S. government shutdown disrupted the agency’s data collection, forcing it to skip the October 2025 CPI report entirely.)

Even with some relief, the October data is set to illustrate the price pressures on consumers — a big factor in the Democrats’ sweeping victories in the congressional midterm elections last week. Eighty-four percent of voters told NBC News’ Exit Poll that they believed higher prices were a result of President Donald Trump’s policies, and 39% said the economy was their No. 1 issue at the ballot box, according to the exit poll.

Original source: https://www.nbcnews.com/business