Urgent... The release of the US consumer spending price index (the Fed's preferred measure of inflation).

Data released today, Thursday, showed an increase in the Personal Consumption Expenditures (PCE) index in the United States during September, registering a monthly growth rate of 0.3%, which aligns with expectations that indicated a growth rate of 0.3%. This growth is higher than the previous reading of the index, which recorded an increase of 0.1% in August.

On an annual basis, the data also revealed an increase in the Personal Consumption Expenditures index by 2.7%, which is higher than market expectations that projected a slowdown in American consumer spending to 2.6%. However, the result was similar to the previous annual reading in August, which was 2.7%.

The Personal Consumption Expenditures index is considered an important measure of inflation as it reflects changes in the prices of goods and services purchased by consumers, excluding food and energy. It differs from the core Consumer Price Index, as it focuses on the goods and services consumed by individuals and is based on total spending for each item, providing a comprehensive view of consumer behavior.

The Federal Reserve of the United States views this index as a key measure of inflation, which enhances its importance in determining monetary policy. Additionally, markets are currently focused on upcoming data from the U.S. labor market, expected to be released next week, as well as data from the Consumer Price Index, adding more indicators for future inflation forecasts.

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