October 14, 2026
September CPI - Continued Acceleration
Consumer prices rose 0.6% from the prior month and 3.7% year-over-year on higher energy prices. Excluding food and energy, core prices advanced 0.3% compared to August and 2.6% on an annual basis. Today’s report suggests inflation is continuing to move away from the Fed’s 2% goal amid ongoing pressures from the Iran war, tariffs, and notable investments in AI infrastructure. Over half of the increase in monthly all items inflation is attributable to the 9.1% rise in gasoline. While the markets are currently not anticipating an additional hike during the FOMC meeting on Oct. 28th, the persistence of inflation will be a primary consideration going forward.
- Consumer prices (CPI) increased 3.7% year-over-year. In September, the consumer price index (CPI) increased 3.7%, 0.3% above the prior two months and 0.1% above expectations. Energy prices have been a primary driver (+20.4%) while shelter inflation is also playing a role, with a 35% weight in the CPI basket (+3.2%). Core CPI (excludes food and energy) increased 2.6% year-over-year, up from 2.4% in August and 0.1% above expectations.
- Consumer prices (CPI) rose 0.6% month-over-month. In September, consumer prices rose 0.6% month-over-month matching expectations but 0.2% higher than August. Core CPI (excludes food and energy) increased 0.3% month-over-month, higher than expectations for +0.2%.
