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Cunningham, M. (2026, October 14). Inflation surged in September as U.S. energy costs jumped. CBS News. https://www.cbsnews.com/news/september-cpi-report-inflation-energy-costs/
Cunningham, Mary. “Inflation surged in September as U.S. energy costs jumped.” CBS News, 14 Oct. 2026, https://www.cbsnews.com/news/september-cpi-report-inflation-energy-costs/.
Cunningham, Mary. “Inflation surged in September as U.S. energy costs jumped.” CBS News, October 14, 2026. https://www.cbsnews.com/news/september-cpi-report-inflation-energy-costs/.
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In September 2026, U.S. inflation rose to 3.7% annually, higher than the expected 3.6%, driven largely by escalating energy costs due to the conflict with Iran. Gasoline prices increased by 9.1% in September alone, accounting for over half of the monthly increase in consumer prices. This data release came just weeks before the November midterm elections, where affordability issues are a top concern for voters. The rise in inflation adds political pressure on Republicans defending majorities in Congress and presents challenges for President Trump's approval ratings amid voter frustration over rising living costs. Despite these concerns, core inflation, which excludes volatile food and energy items, is projected to show only modest gains, potentially easing immediate pressure on the Federal Reserve to raise interest rates further.