Core inflation rose 0.3% in October for the third consecutive month, while overall consumer prices climbed 0.4%. Food prices increased 0.5%, energy rose 0.7%, and shelter added another 0.3%. The three-month run of stubborn inflation is becoming a problem for the Federal Reserve, particularly with borrowing costs already putting pressure on businesses. BLS couldn’t calculate the usual year-over-year October comparison because last year’s government shutdown interrupted data collection.
That pressure is showing up in the trucking industry, where 221 US companies have filed for bankruptcy so far in 2026, putting the year on track for the highest annual total in 23 years. Small carriers are getting squeezed by weak freight revenue, expensive diesel, insurance bills and equipment loans. About two-thirds of surveyed small operators reported flat or declining revenue, and nearly 40% weren’t sure they’d still be operating six months from now. The pandemic brought a flood of new trucking businesses into the market. Many borrowed heavily to buy trucks, only to find themselves trapped when freight rates collapsed.
BREAKING: 221 US trucking companies have filed for bankruptcy so far in 2026, on track for the highest annual total in 23 years.
This marks the 3rd consecutive year with at least 220 bankruptcies.
By comparison, annual bankruptcies were below 100 in both 2021 and 2022.… pic.twitter.com/KovBTeNnzt
— The Kobeissi Letter (@KobeissiLetter) November 9, 2026
Consumers are increasingly worried about the employment picture too. The New York Fed’s October survey found the perceived probability of higher unemployment over the next year jumped to 45.3%, its highest reading since April 2020 and the third-highest on record. Among people under 40, it reached 48.9%, the second-highest reading for that age group. The actual unemployment rate remains at 4.1%, so this is a measure of expectations, not evidence of mass layoffs already underway. But the combination is uncomfortable: inflation is accelerating, small businesses are failing at a 23-year-high pace, and Americans are increasingly worried about losing their jobs.
https://www.bls.gov/news.release/cpi.nr0.htm
https://www.ttnews.com/articles/small-trucking-bankruptcies
https://www.newyorkfed.org/newsevents/news/research/2026/20261109
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