Inflation · September 14, 2026 · 1 min read

U.S. Consumer Price Index Rose 0.4 Percent in August 2026 as Energy Prices Picked Up

Published September 14, 2026 • Updated September 14, 2026

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The U.S. Consumer Price Index for All Urban Consumers increased 0.4 percent in August 2026 on a seasonally adjusted basis, driven largely by a 3.9 percent surge in gasoline prices. Over the past 12 months, headline inflation remained unchanged at 3.4 percent, while core CPI decelerated slightly to 2.4 percent year-over-year.

The U.S. Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4 percent on a seasonally adjusted basis in August 2026, following a 0.1 percent increase in July. Over the 12 months through August 2026, the headline all-items index rose 3.4 percent before seasonal adjustment, matching the year-over-year rate recorded in July. A significant portion of the monthly acceleration was driven by energy costs, as the gasoline index climbed 3.9 percent in August, contributing to more than one-third of the total monthly gain in all items. Overall energy prices grew 2.1 percent over the month. Meanwhile, the index for shelter increased 0.3 percent in August after a 0.1 percent advance in July, while the food index edged up 0.1 percent. Excluding food and energy, the core CPI rose 0.3 percent in August, up from a 0.2 percent advance in July. On an annualized basis, core inflation decelerated slightly to 2.4 percent for the 12 months ending August 2026, compared with 2.5 percent for the period ending July. Analysts and policymakers view the divergence between energy-driven headline price increases and the moderate slowing of 12-month core inflation as highlighting lingering price pressures across select non-energy components such as transportation, lodging, and education, even as underlying core trends continue a gradual moderating path.

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