Brian Jacobsen, chief economist at Annex Wealth Management, said: "There are no surprises in the CPI report, everything is in line with expectations. The cost of housing remains a major driver of inflation. With the jobs report and the inflation report, there is nothing to stop the Fed from cutting rates by 25 basis points next week. What will be exciting will be the summary of the Fed's economic forecasts. There could be four rate cuts in 2025 and inflation will eventually fall to target."