The October 2022 Consumer Price Index or CPI will be released on Thursday. "The Republicans will likely take the house after the mid-term elections, which is what the market was expecting. Now, the market is focusing on the upcoming CPI number. We are expected to see an elevated headline figure of 8% year-over-year. There also will not be much relief in the core figure. Energy prices are increasing after recent declines so the headline figure will not see much of a decrease. Regarding the core CPI figure, I will be looking at housing and rental costs," says Michael Zarembski.