US inflation broadens, third straight hot CPI print complicates Fed path

October CPI marked the third consecutive month of above-consensus inflation, with pressures broadening beyond goods into services and shelter. Tariffs, the AI investment boom, and Iran-war-related supply costs are compounding an affordability crisis now in its sixth year. The data challenges the Fed's easing narrative and raises the risk of a prolonged higher-for-longer rate stance.

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