Updated: 14-Oct-26 09:22 ET
Highlights
- Total CPI increased 0.6% month-over-month (Briefing.com consensus: 0.6%), led by a 5.2% jump in the energy index, following a 0.4% increase in August. The September increase left total CPI up 3.7% year-over-year versus 3.4% in August.
- Core CPI, which excludes food and energy, increased 0.3% month-over-month (Briefing.com consensus: 0.2%), pushed by a 0.4% increase in the shelter index, following a 0.3% increase in August. That left core CPI up 2.6% year-over-year versus 2.4% in August.
- Total CPI increased 0.6% month-over-month (Briefing.com consensus: 0.6%), led by a 5.2% jump in the energy index, following a 0.4% increase in August. The September increase left total CPI up 3.7% year-over-year versus 3.4% in August.
- Core CPI, which excludes food and energy, increased 0.3% month-over-month (Briefing.com consensus: 0.2%), pushed by a 0.4% increase in the shelter index, following a 0.3% increase in August. That left core CPI up 2.6% year-over-year versus 2.4% in August.
- The food index was flat month-over-month and up 2.5% year-over-year.
- The energy index was up 5.2% month-over-month and up 20.4% year-over-year.
- The shelter index was up 0.4% month-over-month and up 3.2% year-over-year. The used cars and trucks index was up 0.7% month-over-month but down 1.5% year-over-year.
- The apparel index was up 0.3% month-over-month and up 3.4% year-over-year.
- The services index was up 0.4% month-over-month and up 3.2% year-over-year.
- The all-items index, less food, shelter, and energy, was up 0.3% month-over-month and up 2.0% year-over-year.
- Real average hourly earnings on a month-over-month basis for all employees decreased 0.5% month-over-month. From September 2025 to September 2026, real average hourly earnings decreased 0.7%.
- The key takeaway from the report is the acceleration in inflation away from the Fed's 2.0% inflation target. That is going to accelerate concerns about a possible tightening of Fed policy at the October FOMC meeting, not to mention deficit worries as cost-of-living adjustments for 2027 for SSI recipients are on track to see their largest increase in three years.
| Category | SEP | AUG | JUL | JUN | MAY |
| All Items | 0.6% | 0.4% | 0.1% | -0.4% | 0.5% |
| Food and Beverages | 0.0% | 0.1% | 0.1% | 0.2% | 0.2% |
| Housing | 0.4% | 0.2% | 0.1% | 0.0% | 0.2% |
| Equivalent Rent | 0.3% | 0.2% | 0.3% | 0.2% | 0.3% |
| Apparel | 0.3% | 0.0% | 0.1% | -0.6% | 0.3% |
| Transportation | 2.5% | 1.2% | -0.5% | -2.5% | 1.3% |
| Vehicles | 0.5% | 0.3% | 0.2% | 0.0% | -0.2% |
| Motor Fuel | 9.1% | 3.9% | -2.9% | -9.7% | 7.0% |
| Medical Care | 0.1% | -0.2% | 0.4% | -0.1% | 0.3% |
| Educ and Commun | 0.2% | 1.6% | 0.6% | -0.8% | 0.8% |
| Special Indices | |||||
| Core | 0.3% | 0.3% | 0.2% | 0.0% | 0.2% |
| Energy | 5.2% | 2.1% | -1.5% | -5.7% | 3.9% |
| Services | 0.4% | 0.3% | 0.2% | 0.0% | 0.3% |
