According to CoinMeta, Bank of America warns that the CPI data for October almost guarantees a Fed interest rate hike in December and opens the door to a larger increase of 50 basis points. In October, CPI rose 0.4% month-on-month, and core CPI rose 0.3%, marking the third consecutive month of unexpected inflationary gains. Bank of America now expects core PCE inflation to be 3.3%. Price pressures are spreading to goods and services, with increases in electronics, airfare, and hotel prices driving up costs. The bank still expects a 25-basis-point hike in December but believes the risk of another hike in January is increasing, rather than in March. The bank warns that the Fed is falling behind on inflation and suggests that the decision to maintain rates in October may have been a policy mistake.