US consumer prices rose faster than markets expected in September, while food prices held steady for the month and gasoline costs surged. The Consumer Price Index for All Urban Consumers rose 0.6 percent on a seasonally adjusted basis, following a 0.4 percent increase in August. The 12-month inflation rate reached 3.7 percent, up from 3.4 percent for the 12 months ending in August and above market expectations of 3.6%.
Gasoline was the main force behind the monthly rise. Its index climbed 9.1 percent in September and accounted for over half of the increase in the overall index. Gasoline prices were 34.2 percent higher over the 12 months ending September. The wider energy index increased 5.2 percent in September, after a 2.1-percent rise in August, and was up 20.4 percent over 12 months.
Shelter costs rose 0.4 percent in September, following a 0.3 percent increase in August, and were 3.2 percent higher over the last year. The food index was unchanged in September after rising 0.1 percent in each of the preceding 2 months. It was up 2.5 percent over the last year.
The index excluding food and energy rose 0.3 percent in September, matching its August increase. Over the year, that index rose 2.6 percent, following a 2.4-percent increase over the 12 months ending August.
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The September reading adds to an acceleration in inflation since September 2024, when the annual rate was 2.4%, compared with 3.7% in September 2026. Food-at-home inflation was 1.3% in September 2024 and 1.8% in September 2026.
The Consumer Price Index news release was transmitted under an embargo until 8:30am (ET) Wednesday, 14 October 2026. It arrived as voters prepared for the 2026 midterm elections, with the economy a central concern. Americans have continued to express widespread concern about grocery, housing and health care costs. A Pew Research Center survey published 8 October found that 73% of Americans were very concerned about the price of food and consumer goods.
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