Inflation Huge Miss: Core CPI Slides From 40-Year-High, Real Wages Tumble For 19th Straight Month

It’s that time of the month again. The ‘most important’ CPI print in history, since the last ‘most important’ CPI print, is expected to show some moderation in October data (but remains at extremely high historical levels in both headline and core), and it did just that and then some: The headline CPI printed far cooler than expected at +7.7% YoY (vs 7.9% exp) and down from the +8.2% in Sept. That is the lowest since January…