The Fed is looking for signs of weaker demand that might curb inflation.
Difference between CPI and personal consumption expenditures is the largest in decades.
The Fed is also expected to reach a higher target range of 4.75-5% in the first quarter of 2023 and wait longer to cut rates.
The consumer price index was up 7.7% from a year earlier, the smallest annual advance since the start of the year.
The surprise pickup in vacancies highlights an unrelenting demand for workers.
Consumer spending was driven by an increase in outlays on services.
There are already signs consumers are shifting their buying patterns to adapt to high prices
A slowdown in restaurant traffic would also be an ominous sign for the broader U.S. economy.
From a month earlier, the core CPI climbed 0.6% for a second month.
Economists are expecting more bad news to come after Wednesday's producer prices beat.
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