US core CPI, PCE, PPI inflation surge for the first time since 2022. What now for the Fed?
Inflation is rising again across all three key metrics—Core CPI, PCE, and PPI—for the first time since 2022, putting serious pressure on the Fed. Core PCE inflation hit 2.8% in October, and Core CPI is at 3.3%, marking 42 straight months above 3%. Housing and wage growth are driving the surge.