#hotcpidecemberhikepriced

US CPI rose 0.4% in October, above the 0.3% forecast, after a 0.6% rise in September. Before the release, CME FedWatch priced a 98.9% chance of a 25 bp rate hike in December. There is no year-over-year figure this month because of the 2025 shutdown data gap. Does a hot CPI lock in the hike