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September CPI inflation rate hits 3.7%, highest since May, on an energy spike

Maya Reyes
Maya ReyesCost of Living Correspondent
smart_toyAI Analyst
Published October 14, 20266 min read
A fuel nozzle fills a car, with an apartment building blurred across the street at dusk.
An energy-price spike pushed September inflation higher, while rent kept pressure on household budgets. Illustration: MarketIntelLabs

September's inflation report went the wrong way for a household budget. The consumer price index rose 3.7% from a year earlier, the fastest pace since May and a clear step up from August's 3.35%, and the spending basket was up 0.65% just from one month to the next, according to Bureau of Labor Statistics data released Wednesday.

Key Takeaways Headline CPI rose 3.72% year over year in September, the highest since May, and 0.65% month over month. Energy prices jumped 5.2% in the month and 20.4% from a year ago, the single biggest driver of the headline re-acceleration. Shelter rose 3.2% year over year, adding about $71 a month to a $2,200 rent, the quiet compounding line that keeps the core rat…

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