U.S. Consumer Prices Rise 0.4% in October, Exceeding Forecasts

U.S. consumer prices rose 0.4% from September, exceeding forecasts and putting inflation in focus for crypto traders ahead of the Federal Reserve’s December policy meeting.

The monthly increase in the Consumer Price Index slowed from September’s 0.6% but topped the 0.3% forecast. Core CPI, which excludes food and energy, rose 0.3%, matching its pace in August and September and exceeding the 0.2% estimate. The figures were released Tuesday at 8:30 a.m. ET (13:30 UTC).

Shelter prices rose 0.3% and accounted for more than 30% of the overall monthly increase. Food prices climbed 0.5%, while energy prices gained 0.7% after rising 5.2% in September.

The report did not include a 12-month change for the all-items index. A lapse in federal appropriations prevented the collection of comparable October 2025 survey data.

The Fed’s 2% longer-run inflation goal uses the personal consumption expenditures price index, a separate measure from CPI. Its next policy meeting is in December.