The Fed Reserve is expected to lower rates again in October.  In doing so, are we looking at higher inflation to come? 

The concerns seem clear. The price of crude oil is hovering around $80 per barrel, threatening to lift energy costs in coming months. Gold, a traditional inflation hedge, has soared above $700 per ounce and is flirting with a 28-year high. The dollar has fallen to a record low against major currencies, and that is expected to boost import prices. And market-based measures of expected inflation have picked up.

But does all this add up to higher inflation?