September Consumer Inflation Surges to 3.7%, Increasing Pressure on Black and Minority-Owned Firms

WASHINGTON - EntSun -- U.S. inflation, as measured by the Consumer Price Index, accelerated sharply in September, 2026, creating additional economic pressure on Black and minority-owned businesses, according to an analysis released today by Creative Investment Research.

The Bureau of Labor Statistics reported that the Consumer Price Index increased 0.6 percent in September, compared with 0.4 percent in August. Annual inflation rose to 3.7 percent from 3.4 percent.

Energy prices were the principal driver of the increase. The energy index jumped 20.4 percent over the past year. Gasoline prices surged 9.1 percent during the month, accounting for more than half of the monthly CPI increase.

"September's CPI confirms what we have been warning about: inflation is accelerating and Black and minority-owned businesses are particularly vulnerable," said William Michael Cunningham, economist and founder of Creative Investment Research.

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Minority Businesses Face a Growing Cost and Credit Squeeze

The September report showed additional price pressures beyond energy. Shelter costs increased 0.4 percent, while core consumer prices rose 0.3 percent for the second consecutive month.

These developments come after the Federal Reserve's September interest-rate increase, creating additional financing challenges for minority-owned firms.

Creative Investment Research has characterized the combination of elevated inflation, slower employment growth, and higher borrowing costs as Trumpsqueeze (https://trumpsqueeze.com/), reflecting the growing pressure on businesses and consumers under current economic policies.

National CPI May Understate Minority-Business Cost Pressures

Creative Investment Research also reiterated its recommendation to develop an MBE Inflation Index measuring the actual cost pressures experienced by Minority Business Enterprises across industries and geographic regions.

"The CPI measures consumer prices, not the operating costs of minority-owned businesses," Cunningham said. "We need better data on what these firms actually pay for fuel, rent, insurance, labor, transportation, utilities, and financing. Without that information, policymakers risk underestimating the economic damage caused by persistent inflation."

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Supplier Diversity Is Part of the Inflation Solution

Despite the challenges, Creative Investment Research emphasized that minority-owned businesses can play an important role in reducing inflationary pressures.

Expanding minority supplier participation can increase competition, diversify sourcing, reduce supply-chain concentration, and strengthen regional productive capacity.

"Minority Business Enterprises are not simply victims of inflation," Cunningham said. "They can be inflation-reducing supply-chain partners. Supplier diversity should be recognized as an economic competitiveness, supply-chain resilience, and inflation-management strategy."

Creative Investment Research urged policymakers, financial institutions, and corporations to strengthen minority-business access to working capital, expand procurement opportunities, and incorporate MBEs into regional supply-chain resilience initiatives.