Consumer Price Index inflation increased 0.2% in October for an un-adjusted annual rate of 2.6%, meeting expectations, according to the Bureau of Labor Statistics.

Forecasters had expected lingering inflation in October. How will the new numbers affect the next Federal Reserve decision on interest rates?

Core CPI between 0.35% and 0.4% would lead the market to reconsider the pathway of inflation but just lead to a one- or two-day downturn, of between 0.25% and 0.5%. Core CPI between 0.3% and 0.35% -- in line with estimates -- would lead to a gain of between 0.