October’s inflation signals are mixed. U.S. gasoline prices have eased from September’s monthly average, and daily mortgage rates have retreated from month-end levels. Yet diesel’s latest weekly increase and still-elevated borrowing costs argue against declaring that inflation pressure has disappeared. There is also an unusual complication for the next CPI report: missing … [Read more...] about October Inflation Outlook: Cooling Fuel Prices, Wider Mortgage Spreads and a CPI Base-Effect Trap