U.S. inflation rose more than expected in October, but gas prices are now dropping

U.S. inflation rose more than expected in October, with consumer prices up 0.4% from September, signaling persistent cost pressures that contributed to Democratic victories in last week's midterm elections. Core prices, excluding food and energy, rose 0.3%, matching the prior month but exceeding forecasts by a tenth of a point. Gas prices increased 1% monthly but are falling this month, while electricity, groceries, and streaming services saw notable hikes. The Federal Reserve is highly likely to raise interest rates in December, with governor Christopher Waller suggesting a possible half-point increase. Voters largely blamed President Trump's policies for high costs, and Democrats now face pressure to address affordability concerns.