Soft landing? Not so fast: Inflation heated back up in October ...Middle East

By Alicia Wallace, CNN (CNN) — The Federal Reserve’s favored inflation gauge just moved in the wrong direction. It comes as President-elect Donald Trump promises massive tariffs that could push the cost of living even higher. The Personal Consumption Expenditures price index rose 2.3% in October from the year before, accelerating from the 2.1% pace notched in September, according to Commerce Department data released Wednesday. The process of reining in high inflation was expected to be bumpy, and the latest reading may be just that. However, some persistent price pressures (for significant expenses like rents and mortgages) are keeping inflation from stabilizing at the central bank’s

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