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Monthly core CPI (all items less food and energy) year-over-year percent change. Shaded bands indicate presidential administration. Dashed yellow line marks the Federal Reserve's 2% long-run inflation objective. Vertical markers highlight key policy and geopolitical events that shaped the inflation trajectory.
The three questions most readers bring to today's CPI release — answered with what the data actually shows.
Core CPI is released by the Bureau of Labor Statistics and covers all items excluding food and energy. It is one of several inflation measures the Fed monitors alongside core PCE (Personal Consumption Expenditures), which is the Fed's formal preferred gauge. Both targets sit at 2%. September 2026 projections shown in the data above reflect consensus analyst forecasts and are subject to revision upon the official BLS release.