Hotter-than-expected inflation data, including the so-called “core” measure of inflation surging to a fresh 40-year high, have sparked a sharp upward revision to investor expectations for how high the Fed will hike rates as it struggles to quell price pressures.
Government data released on Oct. 13 showed that the annual “headline” rate of inflation edged down from 8.3 percent in August to 8.2 percent in September.
