US Inflation Rate (CPI)
Consumer prices (CPI-U) rose 3.7% over the 12 months ending September 2026, up from 3.4% in August 2026. The CPI-U index stood at 336.940 (1982-84 = 100). A year earlier (Sep 2025), the reading was 3.0%.
CPI Inflation Rate: chart
12-month % change in the CPI for all urban consumers (CPI-U), not seasonally adjusted.
Latest readings
Monthly data| Month | 12-month change | Change (pp) | CPI-U index |
|---|---|---|---|
| Sep 2026 | 3.7% | +0.3 | 336.940 |
| Aug 2026 | 3.4% | 0.0 | 334.980 |
| Jul 2026 | 3.4% | -0.1 | 333.918 |
| Jun 2026 | 3.5% | -0.7 | 333.952 |
| May 2026 | 4.2% | +0.4 | 335.123 |
| Apr 2026 | 3.8% | +0.5 | 333.020 |
| Mar 2026 | 3.3% | +0.9 | 330.213 |
| Feb 2026 | 2.4% | 0.0 | 326.785 |
| Jan 2026 | 2.4% | -0.3 | 325.252 |
| Dec 2025 | 2.7% | 0.0 | 324.054 |
| Nov 2025 | 2.7% | — | 324.122 |
| Oct 2025 | — | — | 336.940 |
| Sep 2025 | 3.0% | +0.1 | 324.800 |
| Aug 2025 | 2.9% | +0.2 | 323.976 |
| Jul 2025 | 2.7% | 0.0 | 323.048 |
| Jun 2025 | 2.7% | +0.3 | 322.561 |
| May 2025 | 2.4% | +0.1 | 321.465 |
| Apr 2025 | 2.3% | -0.1 | 320.795 |
| Mar 2025 | 2.4% | -0.4 | 319.799 |
| Feb 2025 | 2.8% | -0.2 | 319.082 |
| Jan 2025 | 3.0% | +0.1 | 317.671 |
| Dec 2024 | 2.9% | +0.2 | 315.605 |
| Nov 2024 | 2.7% | +0.1 | 315.493 |
| Oct 2024 | 2.6% | +0.2 | 315.664 |
— means no value was published for that period.
pp = percentage points.
Related indicators
All US economy indicators →Frequently asked questions
What is the current US inflation rate?
Consumer prices (CPI-U) rose 3.7% over the 12 months ending September 2026, up from 3.4% in August 2026. The CPI-U index stood at 336.940 (1982-84 = 100). A year earlier (Sep 2025), the reading was 3.0%.
Why use the not-seasonally-adjusted CPI for the annual inflation rate?
Seasonal patterns largely cancel out when a month is compared with the same month a year earlier, and unadjusted figures are not revised. That is why the BLS computes its official 12-month change from the not-seasonally-adjusted index and uses seasonally adjusted data for month-to-month changes.
What is the difference between CPI and core CPI?
Core CPI excludes food and energy, whose prices swing with harvests, weather and oil markets. It gives a steadier read on underlying inflation, which is why economists and the Fed watch it closely. Headline CPI is still what households feel at the checkout and the gas pump.
Is CPI the inflation measure the Fed targets?
No. The Fed's 2% inflation goal is defined in terms of the personal consumption expenditures (PCE) price index, which usually runs a little below CPI. CPI comes out earlier each month, though, so markets react strongly to it.
Source: U.S. Bureau of Labor Statistics, via FRED, Federal Reserve Bank of St. Louis (series CPIAUCNS). Data checked Nov 6, 5:40 PM ET. Not investment advice.