This is bad news for anyone hoping the Fed would ease up soon, since prices rose more than expected last month.

• Consumer prices climbed faster than forecast from September to October.
• Even stripping out food and gas, prices still rose more than expected, showing inflation is broad-based, not just energy-driven.
• Oil prices are actually calmer right now, with US crude under $85 a barrel as Persian Gulf tensions ease.
• Gas prices in Honolulu ticked down slightly this week, though other islands are still digesting a sharp spike from Monday.
• Stocks are falling hard this morning, likely reacting to the hotter inflation numbers.

Outlook: With inflation still running hot, the Fed has less room to cut interest rates soon, which could keep pressure on stocks.