Inflation · September 15, 2026 · 2 min read

U.S. Consumer Price Index Rose 0.4 Percent in August 2026 as Energy Costs Rebounded

Published September 15, 2026 • Updated September 15, 2026

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The U.S. Consumer Price Index for All Urban Consumers increased 0.4 percent month-over-month in August 2026 on a seasonally adjusted basis, driven significantly by a 3.9 percent surge in gasoline prices, according to data released by the Bureau of Labor Statistics. Over the 12 months ending August 2026, total CPI rose 3.4 percent unadjusted, matching the annual pace recorded in July. Core CPI, which excludes food and energy, increased 0.3 percent for the month and 2.4 percent year-over-year.

According to data published by the U.S. Bureau of Labor Statistics on September 11, 2026, the Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.4 percent on a seasonally adjusted basis in August 2026, following a 0.1 percent advance in July. Over the 12 months ending August 2026, the all items index increased 3.4 percent prior to seasonal adjustment, holding steady at the same annual rate reported for July. Energy price movements served as a primary contributor to the headline increase in August. The gasoline index surged by 3.9 percent over the month, accounting for more than one-third of the total monthly increase in all items. Overall, the broader energy index rose 2.1 percent in August, reflecting higher refined fuel prices. In contrast, the food index recorded a modest 0.1 percent increase during the month, with food away from home rising 0.3 percent while the food at home index remained unchanged. The index for all items less food and energy, commonly referred to as core CPI, rose 0.3 percent in August 2026 after a 0.2 percent increase in July. Over the trailing 12 months, core CPI posted an unadjusted gain of 2.4 percent, a slight deceleration from the 2.5 percent annual pace recorded in the period ending July. Within the core basket, shelter prices advanced 0.3 percent on a monthly basis. Additional increases were observed across several category indexes, including communication, lodging away from home, airline fares, education, and used cars and trucks. Conversely, indexes for medical care and motor vehicle insurance were among the major components recording monthly declines. The August reading highlights the ongoing influence of energy market volatility on headline consumer price movements, while core inflationary measures continue to exhibit moderate underlying persistence. Economic analysts observe that while headline inflation remains elevated above long-term central bank targets, the stabilization of the 12-month headline rate alongside a slight easing in annual core inflation reflects mixed structural dynamics across goods and services categories.

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