Inflation Picks Up and CD Rates Follow: CD Valet Data Shows 91% of Rate Changes Now Move Higher

Rate increases now outnumber decreases nearly 10 to 1 after hot CPI report

SEATTLE, Oct. 22, 2026 /PRNewswire/ -- CD rates are rising faster as inflation picks up. According to CD Valet data as of Oct. 19, 91% of changes to existing CD rates were increases. That's up from 84.1% on Sept. 21, and it means increases now outnumber decreases nearly 10 to 1.

The acceleration comes as the September Consumer Price Index showed price pressures building. CPI rose 0.6% in September, after rising 0.4% in August, according to the U.S. Bureau of Labor Statistics. Year-over-year inflation climbed to 3.7%, up from 3.4% in August.

Higher-yield CDs are much easier to find

The number of CDs offering at least 4.00% APY rose from 3,780 on Sept. 21 to 7,025 on Oct. 19. That's an 86% jump in about four weeks. Rate increases have picked up speed every month since late summer:

At the top of the market, longer terms gained the most over the past 30 days. Top-end 24-month CD APYs rose 20 basis points to 4.45%, 12-month APYs rose 19 basis points to 4.44%, and 6-month APYs rose 8 basis points to 4.32%. What does this mean for savers? For those comparing terms offering strongest returns, CD Valet data shows the sweet spot landing on the 24-month term.

Across the 39,462 CDs that CD Valet tracks, the median rate was 3.35% APY. Median rates were 3.51% for 6-month CDs, 3.35% for 12-month CDs and 3.10% for 24-month CDs.

Inflation and steady growth push rates higher

Energy drove much of September's inflation increase. Gasoline prices rose 9.1% and accounted for more than half of the monthly CPI gain, while shelter costs rose 0.4%.

The Federal Reserve raised its federal funds target range by 25 basis points in September, to 3.75% to 4.00%. CD rates have kept moving higher since that decision. As of Oct. 19, markets favored no change at the Fed's October meeting, with a smaller chance of another increase.

"With inflation at 3.7%, savers need their money to work harder, and the CD market is responding," said Mary Grace Roske, Head of Communications at CD Valet. "Savers have more strong options than they've had in months. There's a real gap between an average offer and a great one, so savers should take time to shop and compare rates."

What savers should consider

Hotter inflation, continued growth and only light softening in jobs leave room for CD rates to rise further. Smart savers should keep these points in mind:

• Compare offers first. Check local and online rates side by side before choosing a CD.
• Match the term to your timeline. Pick a maturity based on when you'll need access to the money.
• Weigh locking in against waiting. A longer term protects today's yield if rates fall later. A shorter term lets you reinvest sooner if rates keep rising.
• Consider a CD ladder. Spreading deposits across several maturity dates can help manage changes in rates.

The highest verified rates as of Oct. 21 were 9.00% APY on a 9-month CD from Southland Credit Union and 5.15% APY on a 60-month CD from Raymond James. Rates and eligibility can change, so savers should confirm terms before opening an account.

CD Valet tracks around 40,000 publicly listed CD rates from nearly 5,000 banks and credit unions across the country. Visit https://www.cdvalet.com/insights/cd-rate-forecast/ for the full report on where CD rates are headed in 2026.

About CD Valet

CD Valet is a CD marketplace that features verified CD rates from federally insured banks and credit unions. With tens of thousands of CD offers tracked across the country, CD Valet gives savers a clear view of top rates and helps them explore high-yield CD options with reliable returns. For financial institutions looking to raise deposits and attract new customers, CD Valet is a reliable and cost-effective channel that helps boost the visibility of their brand and CD offerings to high-intent CD customers. Visit www.cdvalet.com for more information and check out CD Valet's Best CD Rates for today's highest offerings.

SOURCE CD Valet