When can US inflation data fall back to the Federal Reserve's 2% target? Although US inflation data has fallen significantly from its peak last autumn, there may still be a long and arduous journey to return to the Fed's 2% inflation target. According to the predictions of media survey economists, the month on month increase in US October CPI announced tonight is expected to fall back to 0.1%, setting a new low since May. However, according to Bespoke Investment Group's estimation, even if this low month on month growth rate continues in the future, the year-on-year growth rate of US CPI will not return to the target of 2% until June next year.