The Globe and Mail reports in its Wednesday, Nov. 11, edition that U.S. consumer prices rose more than expected in October, driven by higher food and accommodation costs, prompting the Federal Reserve to consider raising interest rates next month. A Reuters dispatch to The Globe reports that the Labor Department's Consumer Price Index report indicated sustained underlying inflation pressures for the third consecutive month. Year-over-year inflation data was not published due to last year's federal government shutdown, which hindered the collection of consumer price data in October, 2025, leaving no comparison base. Annual consumer inflation jumped 3.7 per cent in September. Inflation is running well above the Federal Reserve's 2-per-cent target. Fed governor Christopher Waller said on Tuesday that the Fed should raise rates next month, adding that "a stronger policy move may be needed." Mr. Waller also raised the prospect of a 50-basis-point hike if core consumer prices, excluding food and energy, increased 0.3 per cent or more from September, which they did. FWDBONDS economist Christopher Rupkey say, "Fed officials are going to need to bring a bigger hose if they have any hope of putting the inflation fire out."