Inflation · September 15, 2026 · 2 min read

U.S. Consumer Price Inflation Accelerates to 0.4% in August 2026 as Energy Costs Rise

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 on a seasonally adjusted basis in August 2026, led by a 3.9 percent rise in gasoline prices, while the 12-month headline inflation rate held unchanged at 3.4 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, accelerating from a 0.1 percent advance registered in July. Over the 12 months ending in August 2026, the overall items index rose by 3.4 percent before seasonal adjustment, holding steady at the annual pace recorded for the period ending in July. A key factor driving the monthly increase was energy costs: the energy index expanded by 2.1 percent over the month, propelled by a 3.9 percent surge in the gasoline index, which accounted for more than one-third of the total monthly all-items increase. Meanwhile, the food index edged up by 0.1 percent, reflecting a 0.3 percent gain in food away from home. Excluding volatile food and energy components, core CPI increased by 0.3 percent in August following a 0.2 percent rise in July. On an annual basis, core CPI advanced 2.4 percent over the 12-month period, representing a minor deceleration from the 2.5 percent rate recorded in July. Within core components, shelter prices rose by 0.3 percent during the month. Additional price increases were observed in communication, lodging away from home, airline fares, education, and used vehicles, whereas indexes for medical care and motor vehicle insurance declined. Economic observers and central bank analysts continue to evaluate whether energy-driven price movements will exert broader pressures on overall consumer price trajectories or if underlying core measures will maintain moderation over coming reporting periods.

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