What is the CPI report, and why is October’s different?
The Consumer Price Index (CPI) measures the average change in prices that urban consumers pay for a basket of goods and services, from groceries and gasoline to rent and medical care. The Bureau of Labor Statistics (BLS) publishes it every month. The figure most people call “the inflation rate” is the 12-month change: how much the index rose from the same month a year earlier.
BLS released the October 2026 report on November 10, 2026 at 8:30 a.m. ET, and it looks different. During the 2025 federal government shutdown, BLS did not collect October 2025 prices, and for most CPI series it never published October 2025 indexes. Without last October as a starting point, there is nothing to compare this October with, so the release says “BLS cannot publish 12-month percent changes for October 2026 for indexes where October 2025 data are unavailable” (see also the BLS shutdown FAQ). The 12-month column is blank for all items, core, food and energy; only a few series still have one, such as gasoline (+37.4%).
The change from September to October is published. Seasonally adjusted, all items rose 0.4% in October, after 0.6% in September. Core prices (all items less food and energy) rose 0.3%, energy 0.7% and food 0.5%. The next report, for November 2026, is scheduled for December 10, 2026.
The latest official 12-month rate for all items is therefore still the one for September 2026, released October 14, 2026: the all-items index rose 3.7% over the year and 0.6% in September alone. Excluding food and energy (“core” CPI), prices rose 2.6%. Energy rose 20.4% and food 2.5% (BLS September 2026 release). A yearly October figure quoted elsewhere is an estimate, not a BLS number.
What it means for your money
Inflation is the rate at which the same dollars buy less. Money in an account loses buying power whenever its interest rate is below the inflation rate, even though the balance itself keeps going up. Comparing the two rates, with real numbers, shows how much.
Let’s do the math: $10,000 at 3.7% inflation
Take $10,000 in an account at the FDIC’s national average rates as of October 19, 2026: 0.38% for savings and 1.76% for a 12-month CD (FDIC National Rates). Interest compounds monthly, as in the compound interest calculator. Prices rise 3.7% a year, the September 2026 rate, held steady as an assumption.
| Account | Rate | Years | Balance | Cost of today’s $10,000 basket | Balance in today’s dollars | Buying power lost |
|---|---|---|---|---|---|---|
| Savings account | 0.38% | 1 | $10,038.07 | $10,370.00 | $9,679.91 | $320.09 |
| 12-month CD | 1.76% | 1 | $10,177.43 | $10,370.00 | $9,814.30 | $185.70 |
| Savings account | 0.38% | 5 | $10,191.79 | $11,992.06 | $8,498.78 | $1,501.22 |
- Savings at 0.38%: the balance grows to $10,038.07, but it buys $9,679.91 of today’s goods, $320.09 less than a year earlier.
- 12-month CD at 1.76%: the gap shrinks to $185.70. A rate needs to reach about 3.7% just to stand still.
- Five years at 0.38%: $10,191.79 buys what $8,498.78 buys today, a loss of $1,501.22.
Try your own balance and rate in the compound interest calculator, or work out a monthly amount for a target in the savings goal calculator.
Another example: what $1,000 of spending costs in 10 years
The same compounding works on prices. If prices rose 3.7% every year, things that cost $1,000 today would cost $1,438.09 in 10 years. At the 2.6% core rate, they would cost $1,292.63. Neither is a forecast; they show how much the rate matters over time. The retirement savings calculator lets you set your own inflation rate for a long-term plan.
Common questions
Why does the October 2026 CPI have no 12-month inflation rate?
A 12-month change compares this October’s index with last October’s. Because of the 2025 federal government shutdown, BLS did not collect October 2025 prices and could not publish October 2025 indexes for most CPI series. Its October 2026 release says: “BLS cannot publish 12-month percent changes for October 2026 for indexes where October 2025 data are unavailable.” The monthly change is published: all items rose 0.4% from September. Any yearly figure for October you see elsewhere is an estimate, not an official BLS number.
What did the October 2026 CPI report show?
BLS released it on November 10, 2026 at 8:30 a.m. Eastern time. Seasonally adjusted, all items rose 0.4% in October, core prices (all items less food and energy) 0.3%, energy 0.7% and food 0.5%. There is no 12-month change for all items, so the latest official yearly rate is still 3.7% for September 2026. The November 2026 report is scheduled for December 10, 2026.
How much does inflation reduce my savings?
Divide your balance by how much prices rose. At 3.7% inflation, $10,000 earning 0.38% grows to $10,038.07 in a year, but today’s $10,000 basket costs $10,370.00, so the balance buys $9,679.91 of today’s goods: $320.09 less. To keep pace, the account has to earn at least the inflation rate.
What is core inflation?
Core CPI is the index for all items less food and energy, whose prices swing the most. In September 2026 core prices rose 2.6% over 12 months, while the all-items index rose 3.7%, pushed up by energy (+20.4%).
Is FlareLodge forecasting inflation?
No. The page uses only rates BLS and the FDIC have published. The examples show what a stated rate does to a balance; they are not a forecast or financial advice.
How we calculated it
Balances use the compound interest formula, FV = P × (1 + r/12)12t, the same code that runs the compound interest calculator. The cost of today’s basket compounds the CPI rate once a year. “In today’s dollars” is the balance × $10,000 ÷ the basket’s cost, and “buying power lost” is $10,000 minus that. Taxes on interest are not included. Figures are estimates for comparison, not advice.
Sources and dates
- U.S. Bureau of Labor Statistics, “Consumer Price Index – October 2026” (news release), released November 10, 2026. Checked November 10, 2026.
- U.S. Bureau of Labor Statistics, “Consumer Price Index – September 2026” (news release), released October 14, 2026. Checked November 10, 2026.
- U.S. Bureau of Labor Statistics, Consumer Price Index release schedule, October 2026 release on November 10, 2026, 8:30 a.m. ET. Checked November 10, 2026.
- U.S. Bureau of Labor Statistics, “2025 Lapse in Appropriations: Impact on the CPI — Frequently Asked Questions”, last modified September 16, 2026. Checked November 10, 2026.
- Federal Deposit Insurance Corporation, National Rates and Rate Caps, as of October 19, 2026. Checked November 10, 2026.
FlareLodge is independent and is not affiliated with BLS or the FDIC. This page is updated when BLS publishes a new CPI report. More articles: Numbers Behind the News.