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CPI Rises 0.6% in September, Gasoline Leads Increase

By Drooid · Oct 16, 2026, 6:02 PM UTC · How we work

Summary

Story summary

The U.S. Bureau of Labor Statistics reported the consumer price index rose 0.6% in September, reaching a 3.7% annual rate.
Higher gasoline and diesel prices, tied to Middle East supply disruptions and recent U.S. tariffs, drove the CPI rise.
Gasoline prices jumped 9.1% in September, contributing over half of the CPI gain.
CME Group futures gave a 73% chance the Federal Reserve will keep rates unchanged at its Oct 28 meeting.

History

Historical Context

After Nixon’s 1973 oil-price controls, Carter began phasing out domestic oil caps on April 5 1979 as the Iranian Revolution drove crude prices up, while the March 28 1979 Three-mile-Island incident heightened energy anxiety. The 1979 shock doubled gasoline costs and spurred inflation, a pattern echoed today as the Fed weighs a rate-hold after crude prices once surged 250% between 1978 and 1980.

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Story summary

The U.S. Bureau of Labor Statistics reported the consumer price index rose 0.6% in September, reaching a 3.7% annual rate.
Higher gasoline and diesel prices, tied to Middle East supply disruptions and recent U.S. tariffs, drove the CPI rise.
Gasoline prices jumped 9.1% in September, contributing over half of the CPI gain.
CME Group futures gave a 73% chance the Federal Reserve will keep rates unchanged at its Oct 28 meeting.

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