Inflation · September 14, 2026 · 2 min read

U.S. Consumer Price Index Rose 0.4% in August 2026 as Energy Costs Rebound

Published September 14, 2026 • Updated September 14, 2026

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The U.S. Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers increased 0.4 percent on a seasonally adjusted basis in August 2026, driven substantially by a 3.9 percent rise in gasoline prices. Over the 12 months ending August, headline inflation remained steady at 3.4 percent, while core inflation moderated slightly to 2.4 percent.

The Bureau of Labor Statistics reported that the U.S. Consumer Price Index for All Urban Consumers rose by 0.4 percent on a seasonally adjusted month-over-month basis in August 2026, accelerating from a 0.1 percent gain recorded in July. Over the 12-month period ending in August, the unadjusted all-items index increased by 3.4 percent, matching the annual rate reported for July. Higher energy costs served as a primary driver of the monthly acceleration, with gasoline prices advancing 3.9 percent in August and accounting for more than one-third of the overall month-over-month rise in headline CPI. Broad energy prices advanced 2.1 percent during the month, bringing the 12-month energy index change to 16.3 percent. Meanwhile, the food index edged up 0.1 percent monthly, supported by a 0.3 percent rise in food away from home, while food at home remained unchanged. The core CPI index, which excludes volatile food and energy components, increased 0.3 percent in August following a 0.2 percent uptick in July. On a year-over-year basis, core consumer prices rose 2.4 percent in August, down slightly from the 2.5 percent annual pace recorded in July. Major drivers within core inflation included shelter costs, which rose 0.3 percent over the month, alongside modest increases in communication, airline fares, education, lodging away from home, and used vehicles. Conversely, indexes for medical care and motor vehicle insurance experienced declines during the month. The reacceleration in monthly headline CPI highlights persistent underlying cost pressures across energy and shelter categories, even as core disinflation progress shows mixed signals across broader services and goods. Policymakers and economic analysts continue to evaluate these divergent developments as supply considerations, consumer demand dynamics, and international energy price volatility shape the broader outlook for price stability into the final months of 2026.

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