September CPI hits 3.7 percent. Gasoline drove most of the monthly jump.

Labor Department Wednesday. All-items index up 0.6 percent in September, 3.7 percent from a year earlier (August was 3.4 percent). Core (ex-food and energy) up 0.3 percent for the month and 2.6 percent over the year. Energy up 20.4 percent year-over-year. Gasoline alone up 34.2 percent. Fuel oil up 74.2 percent. Shelter still running around 3.2 percent. Report lands with energy prices elevated from Middle East supply disruptions and ahead of midterms.

https://www.wsj.com/economy/cpi-inflation-report-september-2026-b2037469

Gasoline index was over 50% of the reason for the increase in CPI:

oh boy…CPI is bad

3.7 headline vs 3.6 expected

2.6 core vs 2.5 expected

the worst thing is that the expected numbers were already higher than the numbers from August, so these misses were worse than the increase in inflation that was already accounted for

gasoline index… pic.twitter.com/PjSrshoXC8

— amit (@amitisinvesting) October 14, 2026

10 year bond yield following the CPI number.

🚀 shot 🔥🔥🔥 pic.twitter.com/aejQlkLgYb

— QE Infinity (@StealthQE4) October 14, 2026

https://www.cnbc.com/2026/10/14/cpi-inflation-report-september-2026.html