US Energy Inflation Quickens to 4-Month High

US energy inflation accelerated for the second month to 20.4% in September 2026, marking the highest level since May. Price growth quickened for energy commodities such as fuel oil (74.2% vs 52%) and gasoline (34.2% vs 27.4%), as well as for gas services (5% vs 4%) and electricity (4.4% vs 3.8%). Compared to the previous month, energy prices climbed by 5.2%, the most since March, after a 2.1% rise in the previous month.

US energy inflation moderated to 14.7% year-over-year in July 2026, the softest since March, down from 15.7% in the prior month. Prices slowed down further for energy commodities such as gasoline (24.6% vs 27.1% in June) and fuel oil (39.1% vs 42.9%). On the other hand, prices rose faster for piped gas service (4.3% vs 3%) and electricity (4.2% vs 4%). On a monthly basis, energy prices fell by 1.5%, after a 5.7% decline in the previous month.

US energy inflation dropped to 15.7% year-over-year in June 2026 from 23.5% in May, marking its first slowdown after four months of increases. May's reading was the highest since August 2022, driven by higher fuel prices amid the Middle East conflict and disruptions in the Strait of Hormuz. Prices slowed down for gasoline (27.1% vs 40.5% in May); fuel oil (42.9% vs 58.9%) and electricity (4% vs 5.9%). Piped gas services costs increased by 3%, the same pace as in May. On a monthly basis, energy prices slipped by 5.7%, after a 3.9% rise in the month before.