Data Desk · Monthly release
Core inflation fell to 2.8% in August 2026
Core CPI is the same basket with food and energy removed. Those two categories swing hardest on weather, harvests and oil, which can hide the underlying trend in everything else.
| This release | 2.8% |
|---|---|
| Previous (July 2026) | 2.8% |
| Change | −0.02 pp |
| A year earlier | 3.1% |
Read from FRED series
CPILFESL,
which republishes the U.S. Bureau of Labor Statistics release unchanged.
The last 12 readings
Each bar is one published observation. No smoothing, no projection.
| Aug 1, | 3.1118 |
|---|---|
| Sep 1, | 3.02 |
| Nov 1, | 2.8943 |
| Dec 1, | 2.838 |
| Jan 1, | 2.9493 |
| Feb 1, | 2.7335 |
| Mar 1, | 2.6731 |
| Apr 1, | 2.9884 |
| May 1, | 2.9571 |
| Jun 1, | 2.8058 |
| Jul 1, | 2.7867 |
| Aug 1, | 2.7635 |
Core inflationSource: U.S. Bureau of Labor Statistics via FRED series CPILFESL
What this measures
Core CPI is the same basket with food and energy removed. Those two categories swing hardest on weather, harvests and oil, which can hide the underlying trend in everything else.
Why it matters
Policymakers watch core because it is a better guide to where inflation settles. Households experience headline, because they buy petrol and food.
What to be careful about
Stripping out energy does not mean energy stopped mattering. When the two measures diverge, the gap is the story.
Recent readings
| Period | Core inflation |
|---|---|
| Aug 1, 2025 | 3.1% |
| Sep 1, 2025 | 3.0% |
| Nov 1, 2025 | 2.9% |
| Dec 1, 2025 | 2.8% |
| Jan 1, 2026 | 2.9% |
| Feb 1, 2026 | 2.7% |
| Mar 1, 2026 | 2.7% |
| Apr 1, 2026 | 3.0% |
| May 1, 2026 | 3.0% |
| Jun 1, 2026 | 2.8% |
| Jul 1, 2026 | 2.8% |
| Aug 1, 2026 | 2.8% |