The most important number for US markets next week arrives on Tuesday, when the Bureau of Labor Statistics publishes October's consumer price index at 8:30am Eastern time. It is the last inflation reading before the Federal Reserve's meeting on 8-9 December, where officials will decide whether to raise interest rates again.

Economists expect the headline index to rise 0.3 percent on the month and the core index, which strips out food and energy, to rise 0.2 percent. That would be cooler than September, when headline prices rose 0.6 percent in a month and 3.7 percent on the year, with energy up 5.2 percent and petrol up 9.1 percent.

This release carries an unusual quirk: it will contain no annual inflation figure. Prices were never collected in October 2025 because the federal government shutdown suspended the survey, so there is no base month to compare against. Traders and the Fed will instead focus on the monthly changes, especially the core reading.

The stakes are high after Friday's strong jobs report, which showed employers adding 165,000 jobs in October and lifted bets on a December rate rise. Money markets now price about a 75 percent chance of a quarter-point increase next month, according to LSEG data. ING economists expect both headline and core inflation to rise 0.3 percent, which would leave a December rise looking likely.

Producer prices follow on Friday, and bond markets close on Wednesday for Veterans Day while stocks stay open. Fed governor Christopher Waller speaks on Tuesday, with other policymakers due through the week.

[Source: tradingview.com](https://www.tradingview.com/news/DJN_DN20261106009514:0-week-ahead-for-fx-bonds-u-s-inflation-data-could-give-clues-on-rate-hike-prospects/) | [Source: home.saxo](https://www.home.saxo/en-gb/content/articles/equities/week-ahead-6-nov-06112026)