The SeptemberConsumer Price Index(CPI)report, set to be released on Thursday, Oct. 10 at 8:30 a.m. ET, will play a pivotal role in shaping the Federal Reserve's next move ahead of its Nov. 7 meeting.

Economists anticipate further cooling inflation, largely driven by falling energy prices. However, core inflation — which excludes volatile energy and food prices — remains a key focus and will be closely monitored for signs of stickiness and its potential Fed policy implications.

Traders are currently pricing in an 87% chance of a 25 basis point rate cut, with the remaining 13% now betting on no rate cut at all...