U.S. Inflation Rises to 3.7% in September as Gasoline Prices Jump 9.1%, Core CPI Exceeds Forecasts

Barchart·10/14/2026 17:46:11

U.S. consumer prices rose 0.6% in September 2026, bringing annual inflation to 3.7%, up from 3.4% in August, according to the Bureau of Labor Statistics. Core CPI, which excludes food and energy, increased 0.3% monthly and 2.6% annually, exceeding economists' expectations ahead of the Federal Reserve's October 27-28 policy meeting.

• Gasoline prices jumped 9.1% in September, accounting for more than half of the monthly headline CPI increase.
• Energy prices rose 5.2% monthly and 20.4% annually, while gasoline prices increased 34.2% year over year.
• Core inflation accelerated from 2.4% annually in August to 2.6% in September.
• Shelter costs increased 0.4%, used vehicle prices rose 0.7%, and airline fares climbed 1.2%.
• Food prices were unchanged, while grocery prices declined 0.1%.
• U.S. Treasury yields rose and stock futures declined following the release.
• Bloomberg reported that futures markets priced approximately a 50% probability of an October Fed rate increase.

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Editor’s Note: This is a developing story. This article may be updated as more details become available.

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