The Consumer Price Index (CPI) rose 2.2% on a year-over-year basis in September, following a 2.8% increase in August. Month over month, the CPI decreased 0.4% as transitory pressures from the gasoline, air transportation and travel tours indexes, which boosted the all-items CPI in July and August, eased.

Prices were up in all eight major components in the 12 months to September. The transportation index increased at a slower pace in September (+3.9%) than in August (+7.2%), but remained the largest contributor to the year-over-year increase.

Prices for durable goods rose 0.2% year over year, after increasing 1.1% in August. The purchase of passenger vehicles index (+0.6%) rose less on a year-over-year basis in September than in the previous month (+2.3%), which was largely attributable to the lower availability of new model-year vehicles compared with the same month last year.