U.S. consumer prices increased as expected in October, and progress towards low inflation has slowed since mid-year, which could result in fewer interest rate cuts from the Federal Reserve next year.

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

U.S. inflation ticked higher in October, but stable core price pressures and tame month-on-month gains prompted a sigh of relief on Wall Street and likely supported bets for an end-of-year interest rate cut from the Federal Reserve.