Concern about inflation deepened at the Federal Reserve's meeting last month, with "several" policymakers ready to raise interest rates and "many" saying a hike in

The Consumer Price Index is the most commonly used measure of inflation in the United States. The CPI for all items increased by 0.9% in March 2026, on a seasonally adjusted basis, as reported by the U.

The 12-month rate of inflation as of July 2026 is 3.4%, according to the Bureau of Labor Statistics (BLS). Energy inflation spiked to 14.7% as the status of the Strait of Hormuz remains uncertain. Core inflation, which excludes energy and food, was 2.5%.

The Bureau of Economic Analysis will publish the latest personal consumption expenditures price index data—the Federal Reserve’s preferred inflation gauge—on Aug. 30. The previous PCE report indicated that inflation rose at its fastest rate in nearly three years in May, reaching its highest annual rate since October 2023.

Consumer prices in July were up 3.4% from a year ago — a smaller annual increase than in May or June. The news makes it less likely the Fed will feel the need to raise interest rates in September.

Stocks rose and bond yields fell sharply Thursday morning after a fresh read on business inflation showed prices were broadly flat in July.