Inflation · September 15, 2026 · 2 min read

U.S. Consumer Price Index Accelerates to 0.4% in August 2026 Driven by Gasoline Costs

Published September 15, 2026 • Updated September 15, 2026

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The U.S. Consumer Price Index for All Urban Consumers rose 0.4 percent in August 2026 on a seasonally adjusted basis, following a 0.1 percent increase in July. Over the past 12 months, headline inflation held steady at 3.4 percent, while core inflation eased slightly to 2.4 percent.

The U.S. Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.4 percent on a seasonally adjusted basis in August 2026. This accelerated rate of monthly price growth follows a modest 0.1 percent increase recorded in July. Over the 12-month period ending in August, the all-items index advanced 3.4 percent prior to seasonal adjustment, maintaining the same annual pace seen in the prior month. Higher energy costs served as the primary driver behind August's headline acceleration, with the overall energy index rising 2.1 percent over the month. Gasoline prices jumped 3.9 percent in August alone, accounting for more than one-third of the total monthly increase across all items. Over the trailing 12 months, the broader energy index experienced a 16.3 percent rise. Shelter costs also picked up, advancing 0.3 percent in August after a 0.1 percent rise in July, while food prices recorded a minor 0.1 percent uptick over the month and a 2.7 percent increase over the year. Core inflation, which excludes volatile food and energy categories, grew 0.3 percent in August following a 0.2 percent advance in July. On an annual basis, core CPI increased 2.4 percent, reflecting a slight moderation from the 2.5 percent annual pace recorded in July. Within core categories, upward price pressure was observed in communication, lodging away from home, airline fares, education, and used vehicles, whereas medical care and motor vehicle insurance indexes posted declines. Policy analysts and economists carefully evaluate these official figures to assess whether underlying price dynamics are remaining aligned with central bank goals or if energy and shelter cost fluctuations may introduce persistent inflation pressures.

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