Consumer price index (CPI)

The most interesting thing this week: U.S. CPI

Data: Bureau of Economic Analysis, Bureau of Labor Statistics; Chart: Andrew Witherspoon/Axios

While all eyes will be on Fed Chair Jerome Powell's testimony before Congress this week, investors would be wise to keep an eye on the October CPI report for the latest on U.S. inflation.

What's happening: The Fed's favored measure of inflation, core personal consumption expenditures, has consistently fallen short of the central bank's 2% target this year, the BLS' inflation metric — the core consumer price index — has been at or above that number every month this year and solidly above 2% since July.

How tuition compares to the overall inflation rate

Data: Federal Reserve Bank of St. Louis; Chart: Axios Visuals

For a period in 2018, tuition inflation was lower than the rate at which consumer prices were rising for the first time since the early 1980s, according to research from S&P Global Ratings.

The big picture: Baumol's cost disease, which says that tuition fees are always going to rise faster than inflation, might not be an iron law after all.