There could be some upside risks to next Thursday's US September CPI data, particularly in the core CPI. According to preliminary S & P Global Purchasing Managers' Index data, corporate purchasing prices rose at the fastest pace in six months. While the ISM manufacturing survey showed a decline, the non-manufacturing report confirmed claims of accelerating price pressures. So if the data show some stickiness in inflation, more investors may believe the Fed will go ahead as planned, cutting rates by 25 basis points each in November and December.