CPI inflation (year over year)
US CPI inflation was 3.7% in September 2026, up 0.4 percentage points from the month before.
Over the past year it has risen by 0.7 percentage points. The latest reading is higher than 66% of all readings since January 1948. It was last this high in May 2026.
- Latest
- 3.7%
- 1 month ago
- 3.4%
- 1 year ago
- 3.0%
- Change over 1 year
- +0.7 pp
- History percentile
- 67th
- History since
- January 1948
What it is
The year-over-year percentage change in the Consumer Price Index for All Urban Consumers, a measure of the prices households pay for a basket of goods and services.
Why it matters for investors
Inflation shapes interest rates, wages, bond returns and the Federal Reserve's decisions. CPI is published earlier in the month than the Fed's preferred PCE measure, so it is often the first read on the month's inflation.
How to read it
The Fed's 2% goal is defined for PCE inflation, which tends to run a little below CPI. Compare this reading with core measures, which exclude volatile food and energy prices, to judge the underlying trend.
Method and sources
Source: US Bureau of Labor Statistics, retrieved from FRED, Federal Reserve Bank of St. Louis (series CPIAUCSL). We calculate the year-over-year change from the monthly index level. Figures are published with a lag and can be revised.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
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