The US annual inflation rate is expected to accelerate to 3.6% in September 2026, up from 3.4% in each of the previous two months, driven primarily by rising energy prices. On a monthly basis, the CPI is forecast to increase by 0.6%, marking its largest gain in five months, as gasoline prices are expected to rise by more than 7%, while food prices are also projected to edge higher. Meanwhile, annual core inflation is expected to tick up to 2.5% from 2.4%, while monthly core CPI inflation is forecast to moderate to 0.2% from 0.3%, suggesting that underlying price pressures remain relatively contained. Airline fares likely continued to rise amid higher jet fuel costs, while rents are expected to post moderate increases. Goods prices likely edged up only marginally as the impact of tariffs gradually waned.