Let us review the economic updates for September. The overall PCE #inflation metric, indicated in blue, recorded a +3.6% y/y increase. This result perfectly matched the +3.6% estimate and shows an acceleration from the +3.4% prior reading. Additionally, the core PCE, which is highlighted in orange, came in at +3.1%. This figure also aligned exactly with the +3.1% estimate, stepping up slightly compared to the +3.0% prior outcome.