Headline vs. core

Definition

Headline is inflation for everything. Core is everything except food and energy.

The story

In the same Oct 14 report, headline prices rose 0.6% for the month, double core's 0.3%. The gap was mostly the jumpy stuff, food and energy. Same report, two very different numbers, and the market had to decide which one mattered.

Why markets watch it

When the two disagree, markets tend to follow core, because the Fed does.

IN HISTORICAL DATA

Latest Inflation (CPI): Wed, Oct 14, 2026 · Hotter

Actual vs forecast
Core +0.3% m/m vs +0.2%
S&P 500
-1.1%
Nasdaq
-1.9%
Gold
Spot -1.7% to $4086.06

History, not a prediction. Every row lists its sources.

All Inflation (CPI) →

See it in the story

How money works · Chapter 5Prices start risingWhat is inflation, and how is it measured?

Connects to

Last seen in

The Week Ahead, Sunday, November 1, 2026 →

We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms