On November 13th, the U.S. Department of Labor announced on Wednesday that consumer prices rose 2.6% in October from a year earlier. This marks a pick-up in inflation from September, when the CPI rose 2.4% year-on-year. Excluding food and energy items, core inflation rose 3.3% year-on-year, a better indicator of underlying trends in inflation. Both results were in line with market expectations. This is the first inflation report since the U.S. election. Americans were disappointed with inflation during the Biden administration, and consumer prices are now about 20% higher than when he took office. Last week's results could have been different without the price increases. Although inflation has been cooling, President-elect Donald Trump took office at a delicate time for the economy, with the Federal Reserve's goal of lowering interest rates to ensure continued healthy growth without reigniting inflation.