The Daily Brief for August 27, 2026, as the data stood that morning · Fuel-driven cooling. Nowflation CPI Gauge 3.16% year over year on 2026-08-27 — −0.022pp on the day, −0.025pp on the week, −0.131pp on the month; seasonally adjusted pace 0.00% annualized over three months and 1.84% over one. Official CPI 3.4% (July 2026, released 2026-08-12); gap −0.24pp. About 44% of the basket is priced from live sources; the rest holds the latest BLS subindex as measured.
The Nowflation Gauge printed 2.12% YoY on 2026-08-27, down 0.001pp on the day and 0.024pp on the week, extending a 0.161pp monthly slide as cost-of-living inflation eased to 2.52%. Motor Fuel led the drag, falling 0.05% on the day and 0.12% on the week even as its yearly gain holds at 30.01%, contributing -0.15bps to the index. Shelter: Rent rose 0.21% on the month, up 1.26% YoY, while Shelter: Owned held flat at 2.89% YoY. The gauge sits 1.28pp below July's official 3.4% CPI print (prior 3.5%), pointing to a softer August read against the Street's 3.225% Nowflation model. Pump prices at $4.099 face a 10.7-cent forward lift to $4.206 over two weeks.
| Forecaster | Headline CPI YoY call |
|---|---|
| Nowflation Forecast (ensemble; the call as it stood that day, locked into a receipt the evening before the release) | 3.31% |
| Nowflation model (in-house) | 3.23% |
| Street consensus (FMP economic calendar estimate) | 3.4% |
| Cleveland Fed nowcast | 3.37% |
| Kalshi — ladder-implied mean (our calculation; market) | 3.36% |
| Prior print | 3.4% |
Our call sits −0.09pp versus the Street; the Gauge runs −0.24pp versus the July 2026 print of 3.4% that this release replaces. Graded: the call locked in its receipt (September 10, 2026 at 6:30 PM ET) was 3.34%, a miss of −0.06pp; the call as it stood this day was 3.31%. The forecast is a separate product from the Gauge — the Gauge measures today's prices; the forecast is our call for what the BLS will print, locked into a receipt the evening before the release and graded after it (August 2026 preview and grading).
The Nowflation CPI Gauge is a measurement of today’s prices — live market sources for the components that have them (all-tenant rents measured from this month’s new leases, pump prices, used-vehicle auctions) and the latest BLS subindex, held as measured, for the rest. It is never a forecast. The print-day call is a separate product: the Nowflation Forecast is the ensemble call for the next CPI release, the current call until it is locked into a receipt the evening before the release, then graded after it; the in-house model is shown alongside it. The wire headline and paragraph are written by Claude from the day’s engine figures only (model alias in each record). Before a paragraph is stored, every number in it is checked against those figures (since September 15, 2026) and its wording against the numbers (since October 2, 2026); a deterministic template replaces it when the API is unavailable or a check fails. Archived paragraphs are shown as written, including those stored before the current checks. The “what moved” bullets are computed, not written. recomputed 7:55 AM & 6 PM ET · published 8:05 AM ET · 8:45 AM ET on print days. Methodology · every input, exposed · calendar feed, RSS and email.
| Day | Gauge YoY | On the day | Gap vs the print |
|---|---|---|---|
| 2026-10-19 | 3.44% | −0.003pp | −0.26pp |
| 2026-10-18 | 3.45% | −0.010pp | −0.25pp |
| 2026-10-17 | 3.46% | −0.020pp | −0.24pp |
| 2026-10-16 | 3.48% | −0.024pp | −0.22pp |
| 2026-10-15 | 3.50% | +0.063pp | −0.20pp |
| 2026-10-14 | 3.44% | +0.005pp | −0.26pp |
| 2026-10-13 | 3.43% | −0.014pp | +0.03pp |
| 2026-10-12 | 3.45% | −0.004pp | +0.05pp |
| 2026-10-11 | 3.45% | −0.008pp | +0.05pp |
| 2026-10-10 | 3.46% | −0.005pp | +0.06pp |
| 2026-10-09 | 3.46% | +0.010pp | +0.06pp |
| 2026-10-08 | 3.45% | −0.011pp | +0.05pp |
| 2026-10-07 | 3.46% | −0.028pp | +0.06pp |
| 2026-10-06 | 3.49% | +0.003pp | +0.09pp |
| 2026-10-05 | 3.49% | −0.004pp | +0.09pp |
| 2026-10-04 | 3.49% | −0.011pp | +0.09pp |
| 2026-10-03 | 3.50% | −0.017pp | +0.10pp |
| 2026-10-02 | 3.52% | −0.017pp | +0.12pp |
| 2026-10-01 | 3.54% | +0.032pp | +0.14pp |
| 2026-09-30 | 3.51% | −0.022pp | +0.11pp |
| 2026-09-29 | 3.53% | −0.022pp | +0.13pp |
| 2026-09-28 | 3.55% | +0.002pp | +0.15pp (method v1.5 from this day, v1.4 before it; the day change is like for like, the published reading moved +0.181pp) |
| 2026-09-27 | 3.37% | −0.007pp | −0.03pp |
| 2026-09-26 | 3.38% | −0.003pp | −0.02pp |
| 2026-09-25 | 3.38% | +0.008pp | −0.02pp |
| 2026-09-24 | 3.37% | +0.002pp | −0.03pp |
| 2026-09-23 | 3.37% | −0.001pp | −0.03pp |
| 2026-09-22 | 3.37% | −0.002pp | −0.03pp |
| 2026-09-21 | 3.37% | +0.001pp | −0.03pp |
| 2026-09-20 | 3.37% | +0.001pp | −0.03pp |
| 2026-09-19 | 3.37% | +0.006pp | −0.03pp |
| 2026-09-18 | 3.36% | +0.027pp | −0.04pp |
| 2026-09-17 | 3.34% | +0.084pp | −0.06pp |
| 2026-09-16 | 3.25% | +0.007pp | −0.15pp |
| 2026-09-15 | 3.25% | +0.010pp | −0.15pp |
| 2026-09-14 | 3.24% | +0.003pp | −0.16pp |
| 2026-09-13 | 3.23% | +0.003pp | −0.17pp |
| 2026-09-12 | 3.23% | −0.007pp | −0.17pp |
| 2026-09-11 | 3.24% | −0.011pp | −0.16pp |
| 2026-09-10 | 3.25% | +0.033pp | −0.15pp |
| 2026-09-09 | 3.22% | +0.064pp | −0.18pp |
| 2026-09-08 | 3.15% | +0.001pp | −0.25pp |
| 2026-09-07 | 3.15% | −0.023pp | −0.25pp |
| 2026-09-06 | 3.17% | +0.001pp | −0.23pp |
| 2026-09-05 | 3.17% | −0.001pp | −0.23pp |
| 2026-09-04 | 3.17% | +0.003pp | −0.23pp |
| 2026-09-03 | 3.17% | −0.007pp | −0.23pp |
| 2026-09-02 | 3.18% | +0.022pp | −0.22pp |
| 2026-09-01 | 3.16% | +0.013pp | −0.24pp |
| 2026-08-31 | 3.14% | +0.002pp | −0.26pp |
| 2026-08-30 | 3.14% | −0.003pp | −0.26pp |
| 2026-08-29 | 3.14% | −0.007pp | −0.26pp |
| 2026-08-28 | 3.15% | −0.008pp | −0.25pp |
| 2026-08-27 | 3.16% | −0.022pp | −0.24pp |
| 2026-08-26 | 3.18% | +0.004pp | −0.22pp |
| 2026-08-25 | 3.18% | −0.002pp | −0.22pp |
| 2026-08-24 | 3.18% | 0.000pp | −0.22pp |
| 2026-08-23 | 3.18% | −0.003pp | −0.22pp |
| 2026-08-22 | 3.18% | −0.006pp | −0.22pp |
| 2026-08-21 | 3.19% | +0.004pp | −0.21pp |