The Bureau of Economic Analysis releases the latest reading of its personal consumption expenditures price index on Wednesday at 10 a.m. Eastern time. Here is what Wall Street expects to see in the October data, according to FactSet:

The personal consumption expenditures (PCE) price index climbed 0.2% in October, the Commerce Department said on Wednesday, matching September's unrevised gain.

The Commerce Department released data showing that PCE inflation ticked higher in October, though the Federal Reserve's preferred inflation gauge remained near last month's level.

The Federal Reserve’s preferred measure of underlying inflation accelerated in October from a year ago, helping explain policymakers’ more cautious approach to lowering interest rates.

In the 12 months through October, the PCE price index increased 2.3 after advancing 2.1% in September. Excluding the volatile food and energy components, the PCE price index rose 0.3%, after a similar increase in September.