Short answer: The August 2026 CPI report was released on September 11; it is no longer “due today.” The Bureau of Labor Statistics (BLS) reported headline CPI-U up 0.4% from July, seasonally adjusted, and 3.4% over 12 months, not seasonally adjusted. Core CPI, excluding food and energy, rose 0.3% on the month and 2.4% over 12 months. This guide explains which figures answer which investor question before the September 15–16 Fed meeting.
Originally a pre-release checklist, updated September 13, 2026 after the official data. For a separate account of the stock-market session, read our CPI and market-reaction analysis.
August CPI: actual results versus July
| Measure | July 2026 | August 2026 | Interpretation |
|---|---|---|---|
| Headline CPI-U, monthly (seasonally adjusted) | +0.1% | +0.4% | Monthly pace accelerated |
| Headline CPI-U, 12-month (not adjusted) | +3.4% | +3.4% | Annual rate was unchanged |
| Core CPI, monthly (seasonally adjusted) | +0.2% | +0.3% | Underlying monthly measure increased |
| Core CPI, 12-month (not adjusted) | +2.5% | +2.4% | Annual core rate eased |
Sources: BLS August CPI release and BLS July CPI release. Monthly and 12-month rates have different seasonal-adjustment conventions; the table does not subtract one from the other.
What drove the August reading?
BLS reported the shelter index increased 0.3% in August after 0.1% in July. Its core measure rose 0.3%. Energy can move the all-items index differently from core, while individual categories can diverge sharply. Compare the official category table rather than treating a single headline as broad-based evidence. Our PPI versus CPI guide explains why a producer-price reading cannot simply be added to consumer inflation.
Why investors care before the Fed meeting
The September 15–16 FOMC meeting follows the data release. The CPI report is one input to policy deliberations, not a mechanical interest-rate instruction. Markets also reflect expectations formed before publication. An apparently hot monthly result can coincide with a stable annual headline or an easing annual core rate, as this report shows. The dot plot explainer separates projections from actual decisions, and our weekly calendar gives the upcoming event times.
A reusable release-day checklist
- Record the precise release date and whether each percentage is monthly seasonally adjusted or 12-month unadjusted.
- Compare headline and core, then read shelter, energy, and services components in the primary release.
- Separate observed data from a claim about why securities moved; price action can reflect multiple simultaneous drivers.
- Check subsequent revisions and the Fed’s actual statement before declaring a policy outcome.
Frequently asked questions
Was August CPI still pending on September 13?
No. BLS released it September 11, 2026, at 8:30 a.m. Eastern Time.
Why did monthly headline accelerate while annual core eased?
They are different measures and time windows. A one-month change is not the same as a 12-month rate; headline includes food and energy while core excludes them.
Primary sources: BLS August 2026 CPI; BLS July 2026 CPI. Informational only; not investment advice.