The United States reported a month-on-month inflation rate of 0.6% for September 2026, in line with the market forecast of 0.6%. The reading was higher than the previous period’s 0.4%, meaning consumer prices rose at a faster pace in the latest reference period than in the one before.
What the figure measures
The inflation rate month on month measures the percentage change in the price level from one month to the next. A reading of 0.6% means that, on average, the prices tracked in the survey were 0.6% higher than they were in the previous month. Because it compares only two adjacent months, the series can swing sharply from one release to the next, which is why economists often look at it alongside the annual rate.
The figure came out exactly where forecasters had expected it to be. Against that forecast, the release was neither above nor below expectations, while against the previous period it showed an acceleration of 0.2 percentage points.
Context
The most recent annual reading for the United States stood at 3.4% for August 2026. That figure covers a different period and a different time basis, so it should not be read as a direct comparison with the month-on-month number. The two measures answer separate questions: the monthly rate shows the immediate pace of price change, while the annual rate shows the cumulative change over twelve months.
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Data: FRED — St. Louis Fed
