September CPI: one month at 0.6% annualizes to ~7.4%, double the 3.7% headline
The Bureau of Labor Statistics said Wednesday that US consumer prices rose 0.6% in September, lifting annual inflation to 3.7% from 3.4%. Gasoline jumped 9.1% and drove over half of it.
Annualize that one month and you get ~7.4%, double the headline. Pay rose just 0.1%, so real hourly earnings fell for a sixth straight month.
https://www.cnbc.com/2026/10/14/cpi-inflation-report-september-2026.html
Sources: MarketReview: real hourly pay fell 0.5% in September; nominal wages +0.1% vs CPI +0.6%; real hourly -0.7% over 12 months · @SteveRattner: Real wages are shrinking year-over-year for the sixth month in a row · @KobeissiLetter: Gold prices fall toward $4,100/oz as US CPI inflation rises to 3.7% · @byHeatherLong: Since January 2025 CPI inflation +5.4%, wages (average hourly earnings) +5.5%
Not financial advice. For informational and educational purposes only.
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