Federal Reserve Chair Jerome Powell had mentioned last week that the road to 2% inflation would not be a straight line. "We expect there to be bumps," Powell said, at his press conference last week.

The consumer price index may show core inflation coming in on the high side again. That could slow Federal Reserve rate cuts ...

Inflation rose slightly in October in line with economists' expectations, as the consumer price index was up 2.6% from a year ago and 0.2% compared with last month.