With all the talk of inflation, of labor markets, of interest rates — with that constant flow of numbers and projections and interpretations into the mix — there have been the monthly measurements. Is inflation back to 2% goal of the Federal Reserve, which gets to decide how long interest rates remain high?

There are some thoughts that it may have happened, though not yet officially appeared in the data. The September Consumer Price Index numbers came out last week. Compared to August, headline CPI was up 0.2% on a seasonally adjusted basis and 2.4% year-over-year unadjusted. The Producer Price Index was also down. Inflation seems to be drifting down toward that 2% Fed goal.

Still to come is the Personal Consumption Expenditures price index out of the Commerce Department. That's where Goldman Sachs economists come in. They projected last Friday that PCE for September, which comes out on Halloween, would show a 12-month inflation rate of 2.04%, as CNBC reported. The Fed would round that down to 2%, giving it a chance to claim victory.