Inflation · September 15, 2026 · 2 min read

U.S. Consumer Price Index Rose 0.4% in August 2026 Driven by Energy Costs

Published September 15, 2026 • Updated September 15, 2026

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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, following a 0.1 percent gain in July. Over the 12 months ending in August, headline inflation remained steady at 3.4 percent before seasonal adjustment. A 3.9 percent increase in the gasoline index accounted for more than one-third of the overall monthly rise, pushing the broad energy index up 2.1 percent for the month. Meanwhile, core inflation, which excludes volatile food and energy components, rose 0.3 percent in August and slowed slightly to a 2.4 percent annual pace.

According to official figures released by the Bureau of Labor Statistics on September 11, 2026, the Consumer Price Index for All Urban Consumers expanded by 0.4 percent in August on a seasonally adjusted basis, representing an acceleration from the 0.1 percent increase registered in July. On an unadjusted year-over-year basis, the all-items index held steady at 3.4 percent, matching the 12-month rate recorded through July. The primary driver behind the monthly acceleration was energy costs. The index for gasoline climbed 3.9 percent in August alone, contributing more than a third of the headline CPI increase. The overall energy component expanded 2.1 percent for the month and stands 16.3 percent higher over the past 12 months. Shelter costs also picked up, rising 0.3 percent in August following a 0.1 percent gain in July. In contrast, food costs experienced modest movement, rising 0.1 percent over the month and 2.7 percent over the prior 12 months, with food away from home rising 0.3 percent. Core CPI, which removes the volatile food and energy sub-indexes to reflect underlying price trends, rose 0.3 percent in August after advancing 0.2 percent in July. On a 12-month basis, core inflation decelerated slightly from 2.5 percent in July to 2.4 percent in August. Increases across communication, lodging away from home, airline fares, education, and used vehicles were partially offset by declines in medical care and motor vehicle insurance. Economic observers and policymakers closely monitor these figures alongside broader macroeconomic indicators, including labor market developments and retail expenditures. While the uptick in monthly inflation highlights sensitivity to energy price fluctuations, the slight moderation in core annual inflation suggests that non-energy price pressures remain somewhat moderated relative to headline shifts. The Bureau of Labor Statistics is scheduled to publish the September 2026 Consumer Price Index metrics on October 14, 2026.

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