According to CoinMeta, the U.S. inflation report for October has been released, showing that the rate of increase in consumer prices was faster than expected. The overall CPI price index rose by 0.4%, while the “core” price index – which excludes more volatile food and energy prices – increased by 0.3% on a month-to-month basis. Due to the inability to collect data during last year’s government shutdown, the Bureau of Labor Statistics did not release the annual inflation rate. Following the release of the data, yields on two-year Treasury bonds surged, as these yields are very sensitive to changes in interest rate expectations. Today’s inflation data indicates that investors expect more interest rate hikes next year.