Inflation · September 14, 2026 · 1 min read

U.S. Headline Inflation Accelerates to 0.4% in August 2026 Amid Energy Price Spike

Published September 14, 2026 • Updated September 14, 2026

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U.S. Consumer Price Index inflation rose 0.4 percent month-over-month in August 2026, driven in large part by a 3.9 percent surge in gasoline prices, while the year-over-year headline rate remained unchanged at 3.4 percent.

The U.S. Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent on a seasonally adjusted basis in August 2026, following a 0.1 percent increase in July. On an unadjusted basis, the overall items index increased 3.4 percent over the 12 months ending in August, matching the 3.4 percent annual rate recorded in July. A significant driver of the monthly acceleration was energy costs, with the gasoline index rising 3.9 percent in August and accounting for more than one-third of the total monthly increase in the headline CPI. Food prices edged up 0.1 percent during the month. Excluding volatile food and energy components, the core CPI rose 0.3 percent in August after a 0.2 percent gain in July, while the 12-month core rate moderated slightly to 2.4 percent. Moderate price increases across shelter, communication, airline fares, and used vehicles contributed to core gains, offset by minor declines in medical care and vehicle insurance. Policy analysts note that while annual core disinflation continues a gradual trajectory, the pickup in monthly headline and core price pressures highlights lingering inflationary risks that complicate near-term economic forecasting and monetary policy decisions.

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