A shutdown-delayed federal report released Friday found overall U.S. inflation crept up slightly in September, driven mostly by rising gas and grocery prices as consumer spending cooled.

Follow for live news and analysis of the Fed's preferred inflation gauge, the personal consumption expenditures price index. The September reading is due to be released on Friday morning.

Stagflation looks increasingly likely in 2026 as the economy looks on track to grow below-trend while inflation runs "uncomfortably" hot, RBC said.

U.S. economic growth will increase slightly next year but employment gains will remain sluggish and the Federal Reserve will slow any further rate cuts, economists polled by the National Association for Business Economics said in the group's year-end forecast survey.

Trump will go to Pennsylvania on Tuesday to discuss his administration's efforts on rising prices as Americans say they continue to have concerns about the state of the economy.

Apollo's top economist is eyeing risks including a fresh bout of inflation and massive influx of new bond issuance pressuring markets in 2026.