The headline numbers from the October consumer price report show that "inflation is headed in the right direction," Federal Reserve Bank of Minneapolis President Neel Kashkari said on Wednesday. Speaking in an interview with Bloomberg Television,

U.S. inflation witnessed an uptick in October but still remained in line with Wall Street estimates. According to the Bureau of Labor Statistics, the consumer price index (CPI) increased 0.2% on a seasonally adjusted basis in October,

The Federal Reserve might have to rethink another cut at its December meeting if inflation surprises "to the upside" over the next month, Minneapolis Fed president Neel Kashkari told Yahoo Finance.