That rate hike from the Fed is looking increasingly more likely. The Wall Street Journal reports:
U.S. consumer prices increased in October from a year earlier at the fastest rate in two years, the latest sign inflation pressures in the economy are firming.
The consumer-price index, measuring what Americans pay for everything from rent to razors, advanced a seasonally adjusted 0.4% from a month earlier, the Labor Department said Thursday. Excluding the volatile costs of food and energy, so-called core prices rose 0.1%.
Economists surveyed by The Wall Street Journal had projected overall prices to rise 0.4% and core prices to increase 0.2%.
Higher prices for gasoline and shelter drove the gain.