Today's CPI Report Was Broadly Benign

Gasoline lifted the headline, but annual core inflation eased. What the CPI and PPI details mean for markets.

August 2026 data. CPI was released September 11. PPI was released September 10.

The analysis

My reading of today’s CPI report is broadly benign.

Gasoline pushed the headline higher. Beneath that rebound, annual core inflation eased to 2.4%. Rent growth remained modest. This was not a broad-based inflation scare.

Yesterday’s producer-price report leaves a se…