September's hotter-than-expected 3.7% annual inflation and 0.6% monthly increase, driven by Iran war-related energy spikes, make cooling unlikely in the next 24 days. Cleveland Fed nowcasts estimate October CPI at 3.77% year-over-year with only 0.27% monthly growth, suggesting minimal improvement from September's elevated levels. Consumer inflation expectations hit their highest since May 2023 at 3.9%, indicating persistent price pressures through the November report release.