Jim Cramer says to focus more on earnings than inflation data with Fed in a cutting cycle

CNBC's Jim Cramer said investors shouldn't worry too much about the latest consumer price index data because the Federal Reserve has already started its cutting cycle."At the end of the day, the earnings are what control stock prices long-term, and stocks are what we're trying to make money on," he said.

The CPI — which broadly measures the cost of goods and services across the U.S. — rose by 0.2% in September, sending the annual inflation rate to 2.4%. This increase came inas investors worried about stubborn inflation. However, the inflation rate still fell from August and hit its lowest reading since February 2021.

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