September CPI report shows inflation accelerated to 3.7% as energy costs soared

Updated on: October 14, 2026 / 9:04 AM EDT / CBS News

Inflation accelerated across the U.S. in September, rising at an annual rate of 3.7% as energy costs jumped, according to new government data.

The latest Consumer Price Index shows that stubborn price pressures persist just weeks before Americans vote in the midterm elections.

The Consumer Price Index tracks changes in prices over time for a basket of commonly purchased goods and services. Economists expected the index to rise at an annual rate of 3.6% in September, according to FactSet.

Inflation picked up after two months of holding steady at an annual pace of 3.4%. Core CPI, which excludes the more volatile energy and gas categories, rose 2.6% from a year ago, accelerating from a 2.4% rate in August and higher than economists' forecast of 2.5%.

Inflation has risen sharply since the start of the year due to soaring energy prices, sparked by the war in Iran and Russia's war with Ukraine.

The Labor Department said Wednesday that gasoline prices, which rose 9.1% in September from the prior month, accounted for more than half the monthly increase in the CPI report. Energy prices rose 20.4% from a year ago…

Original source: https://www.cbsnews.com/moneywatch/