# Macro & Fed News, Oct 15, 2026: September CPI jumps to 3.7%, lifting odds of another Fed rate hike

> US consumer prices rose 3.7% in the 12 months through September, up from 3.4% in August, as gasoline surged and core inflation reached 2.6%. Markets sharply…

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- **Updated:** 2026-10-15
- **Category:** news
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## Key data

- **Desk:** Macro & Fed
- **Date:** Thu, Oct 15, 2026
- **Stories:** 5
- **Outlets cited:** 8
- **Items screened:** 12
- **Freshness:** last 48h

US consumer prices rose 3.7% in the 12 months through September, up from 3.4% in August, as gasoline surged and core inflation reached 2.6%. Markets sharply raised bets on an October Fed hike. ## Inflation accelerates to 3.7% as gasoline costs surge The Labor Department reported on October 14 that the consumer price index rose 0.6% in September from August, faster than the 0.4% gain the month before. The annual rate climbed to 3.7% from 3.4%, above economist forecasts and well above the Fed's 2% target. Gasoline prices jumped 9%, accounting for more than half …

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## Sources

1. [Dow closes in the red after report finds inflation rose in September](https://www.cbsnews.com/video/dow-closes-red-september-inflation-report/)
2. [New inflation warning sign](https://www.axios.com/2026/10/14/inflation-warning-sign-cpi)
3. [Fed rate hike call seen tight as inflation heats up](https://www.kitco.com/news/off-the-wire/2026-10-14/fed-rate-hike-call-seen-tight-inflation-heats)
4. [Hot inflation data adds to GOP midterm woes](https://www.politico.com/news/2026/10/14/inflation-fed-rate-hike-energy-01117791)
5. [September inflation rises to 3.7%, driven by high diesel prices](https://www.nbcnews.com/now/video/september-inflation-rises-to-3-7-driven-by-high-diesel-prices-271557189651)
6. [US inflation rises more than expected ahead of midterm elections](https://www.bbc.com/news/articles/cwy8lx3pg4k2o)
7. [Inflation jumps to 3.7% as gas and diesel prices squeeze consumers ahead of the midterms](https://www.nbcnews.com/business/economy/inflation-jumped-september-gas-diesel-prices-squeezed-consumers-ahead-rcna603202)
8. [Inflation surpassed worker paychecks for third straight month](https://www.usatoday.com/story/money/economy/inflation-cost-of-living/2026/10/14/september-2026-cpi-report-inflation-prices/92214458007/)
9. [Fed survey shows price pressures intensifying amid rise in fuel costs](https://www.kitco.com/news/off-the-wire/2026-10-14/fed-survey-shows-price-pressures-intensifying-amid-rise-fuel-costs)
10. [Citi turns hawkish on Fed after inflation surprise, expects December rate hike](https://www.kitco.com/news/off-the-wire/2026-10-14/citi-turns-hawkish-fed-after-inflation-surprise-expects-december-rate)
11. [Fed’s Williams Currently Sees No Need for Rate Hike in 2027](https://www.bloomberg.com/news/articles/2026-10-13/fed-s-williams-currently-sees-no-need-for-rate-hike-in-2027)

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