#SAVINGS & FINANCIAL PRODUCTS
“Inflation is the same everywhere.” In the United States, in September 2026, prices rose 3.7% over one year — but excluding food and energy the increase was only 2.6%.
Published on October 18, 2026 · to be rechecked on November 30, 2026
According to the US Bureau of Labor Statistics, the consumer price index rose 3.7% over the twelve months to September 2026 (not seasonally adjusted). Over the month it rose 0.6% (seasonally adjusted). Energy climbed 20.4% year on year, shelter 3.2%, and the index excluding food and energy 2.6%.
What does the BLS say about US inflation in September 2026?
+3.7% over twelve months, with energy at +20.4% and inflation excluding food and energy at +2.6%.
In other words: US prices are 3.7% higher than a year ago, and energy accounts for much of the gap with inflation excluding energy.
Four caveats that belong with the number
- The 3.7% annual figure uses data that are not seasonally adjusted; the +0.6% monthly figure is seasonally adjusted: the two cannot be compared directly.
- Excluding food and energy, the rise is 2.6% over twelve months: most of the acceleration comes from energy (+20.4%).
- Shelter rose 3.2% over one year, well below the headline index.
- The US basket and methodology differ from those of France’s Insee and the euro area’s Eurostat: this 3.7% cannot be compared directly with European inflation figures without these caveats.
Why it still matters: US inflation is driven by energy; excluding food and energy, it stays at 2.6%.
For you
- Do you follow inflation in countries other than your own?
- Does energy weigh more on your budget than a year ago?
Source: Bureau of Labor Statistics (United States), Consumer Price Index – September 2026, released on 14 October 2026.
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