Today, we got the September Consumer Price Index (CPI) report which showed an overall increase of 2.4% for the last year and 0.2% for the month. That’s slightly below last month’s 2.5% and above expectations by 0.1%. The 0.2% monthly increase was above the 0.1% expected. The Core CPI which excludes food and energy was up 3.3% vs last year and up 0.3% from last month. That 0.3% annualizes to 3.7%. Both of those were also above expectations by 0.1%. The annual number is trending towards the Fed’s 2.0% target, but the Core actually rose. Let’s go through the details: The all-items CPI is down sub…