Fed holds at 3.75–4%, 10–2, with two votes for a hike
The October 28, 2026 FOMC kept the range at 3-3/4 to 4 percent; Cook and Hammack wanted a quarter point more. Next morning: GDP +3.4%, PCE inflation 3.6%.
Archive. This is the Headline CPI, 12 months to August 2026 release exactly as published. It is preserved rather than corrected: see the current release.
Economy · Indicator · Archive
Inflation (CPI) 3.4%
Headline inflation held at 3.4% over twelve months while prices rose 0.4% on the month — the fastest monthly pace of the summer. Core eased to 2.4%.
| Previous (July 2026) | +3.4% y/y · +0.1% m/m |
|---|---|
| Actual (August 2026) | +3.4% y/y · +0.4% m/m |
| Core (ex food & energy) | +2.4% y/y · +0.3% m/m — down from 2.5% |
| Why it matters | The twelve-month figure did not move, but the monthly pace did: 0.4% is an annualised rate well above target. Core at 2.4% is the closest it has come to 2%. Five days later the Fed raised. |
Two readings, one release
Core is close to the Fed's goal. Headline is not, and the monthly pace accelerated to 0.4%.
| Headline CPI | 3.4% |
|---|---|
| Core CPI | 2.4% |
% change vs. August 2025Source: U.S. Bureau of Labor Statistics, CPI for August 2026
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Sources
- Consumer Price Index Summary — August 2026U.S. Bureau of Labor Statistics · Sep 11, 2026 · Primary source