US Core Consumer Prices Overshoot Expectations

Core consumer prices in the United States, which exclude food and energy goods, rose by 0.3% for the third consecutive month in October of 2026, above market expectations of 0.2%. Prices rose sharply for a second month in transportation services (0.8% vs 0.6% in September), indicating that higher oil and fuel prices in the wholesale market is being transmitted into core sectors of the transportation sector. Prices also rose for shelter (0.3% vs 0.4%), medical care commodities (0.5% vs -0.7%), and medical care services (0.3% vs 0.3).

Core consumer prices in the United States, which exclude food and energy, rose by 0.3% from the previous month in September of 2026, the same pace as August, and ahead of median market expectations of a 0.2% increase. Consumer prices rose sharply for shelter (0.4% vs 0.3% in August) and transportation services (0.6% vs 0.5%), the most in six months to suggest that soaring energy prices are being transmitted through the transportation and logistics sector. Meanwhile, the CPI rebounded for medical care services (0.3% vs -0.2%). From the previous year, the core inflation rate was at 2.6%.

Core consumer prices in the United States, which exclude food and energy, went up by 0.3% over a month in August 2026, the most since April, following a 0.2% increase in July and above market forecasts of a 0.2% rise. Higher prices for communication services, airline fares, education, used cars and trucks, and lodging away from home were partly offset by declines in medical care and motor vehicle insurance costs. On a yearly basis, the core inflation rate eased to 2.4% in August, the lowest since March 2021, from 2.5% the prior month, aligned with market expectations.