The Consumer Price Index increased 0.4% last month, the U.S. Bureau of Labor Statistics said Tuesday, following a 0.6% rise in September. Economists had forecast a 0.3% increase. Core CPI, which excludes food and energy, rose 0.3%, matching September’s gain and exceeding the 0.2% consensus estimate.

The report did not provide annual inflation figures. The BLS said it did not collect survey data for October 2025 because of a lapse in appropriations, leaving it unable to publish October 2025 indexes for most CPI series. As a result, it cannot calculate 12-month changes for October 2026 for indexes missing that data.

Gold was already under pressure before the release, as investors weighed comments from Federal Reserve Governor Christopher Waller expressing support for a potential 50-basis-point rate hike next month.