The Consumer Price Index (CPI) rose 1.6% on a year-over-year basis in September, down from a 2.0% gain in August. This was the smallest yearly increase since February 2021 (+1.1%). The main contributor to headline deceleration was lower year-over-year prices for gasoline in September (-10.7%) compared with August (-5.1%). The all-items CPI excluding gasoline rose 2.2% in September, matching the increase in August for this measure.
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