According to CoinMeta, both the overall and core inflation rates in the United States in October exceeded expectations, reaching the threshold for significant interest rate hikes mentioned by Federal Reserve Governor Jerome Powell. According to data released on Tuesday by the Bureau of Labor Statistics (BLS), the consumer price index, excluding food and energy, rose by 0.3% from the previous month, with the overall price level increasing by 0.4%. Due to disruptions in data collection during the government shutdown last October, the BLS did not release year-over-year comparisons. The report indicates that price pressures are continuing to increase ahead of this month's mid-term elections, with Democrats focusing primarily on the cost of living in their campaign efforts and regaining control of both chambers of Congress. This year, factors such as the Iran war, tariffs, and the boom in data centers have contributed to inflation. This is the latest report (CPI) that Federal Reserve officials will see before their policy meeting on December 8-9. Investors expect them to raise interest rates at that meeting to combat inflation.