The September 2026 Consumer Price Index rose 0.6% on the month and 3.7% over twelve months, up from 3.4% in August. Energy drove it: the energy index rose 5.2% in the month and 20.4% year-over-year, and gasoline rose 9.1% in the month and 34.2% on the year, accounting for about half of the headline gain. Shelter rose 0.4% (3.2% on the year) and food was flat (2.5%). Markets raised the odds of an October hike on the release.