Overview
- Consumer prices rose 0.3% in September and 3.0% over 12 months, with core CPI up 0.2% on the month and 3.0% year over year, all slightly below forecasts.
- A 4.1% jump in gasoline was the biggest driver of the monthly increase, while shelter rose 0.2% and used‑car prices declined.
- Markets kept near‑certainty on a 25‑basis‑point rate cut at the Oct. 28–29 Fed meeting, and equities advanced on the softer print.
- The Social Security Administration set a 2.8% cost‑of‑living adjustment for 2026 after the CPI release during the ongoing federal shutdown.
- Economists said tariffs are adding pressure to goods prices and warned the shutdown could impair collection and reliability of October and later CPI data.