US Inflation Shock Ends the Wall Street Rally: What It Means for ASX 200 Investors

Highlights

• The US Consumer Price Index for All Urban Consumers rose 0.4% in October on a seasonally adjusted basis, after a 0.6% increase in September.

• The index for all items less food and energy rose 0.3% in October, matching the monthly rates in September and August.

• On 11 November 2026, the S&P/ASX 200 was at 9,117, about 0.1% lower, in intraday trade.

Introduction

The US Bureau of Labor Statistics published the October 2026 Consumer Price Index on 10 November 2026.

On 11 November 2026, the S&P/ASX 200 stood at 9,117 in intraday trade, about 0.1% below its 9,129 close on 10 November 2026.

Official October Reading for the CPI-U

The seasonally adjusted all-items CPI-U advanced 0.4% in October, following a 0.6% increase in September. Before seasonal adjustment, the CPI-U rose 0.2% and stood at 337.511 (1982-84=100). The Consumer Price Index for Urban Wage Earners and Clerical Workers was 331.147, up 0.1% before seasonal adjustment.

The Bureau did not collect survey data for October 2025 because of a lapse in appropriations, so it could not publish 12-month percent changes for October 2026 where the October 2025 starting point is unavailable. The gasoline index was among the series for which a 12-month change was published, at 37.4%.

Shelter, Food and Energy Inside the Monthly Increase

Shelter rose 0.3% in October and accounted for over 30% of the monthly all-items increase. Owners’ equivalent rent rose 0.3% and rent increased 0.2%. Lodging away from home rose 0.6% after a 2.0% increase in September. The food index increased 0.5% after being unchanged in September, with food at home up 0.4% and food away from home up 0.5%. The energy index increased 0.7% after a 5.2% jump in September. Gasoline rose 1.0% after a 9.1% advance the previous month, electricity rose 0.9%, and the natural gas index decreased 0.8%.

Prices Excluding Food and Energy

The index for all items less food and energy rose 0.3% in October, matching the monthly rates in September and August. Recreation increased 0.8%, motor vehicle insurance rose 0.7%, and medical care increased 0.3%. Used cars and trucks declined 1.2% after a 0.7% increase in September. The communication index decreased 0.1%. A monthly CPI print does not, on its own, determine later policy decisions or equity closes.

US and Australian Benchmarks Across Two Sessions

An intraday Australian level can still change before the local close.

Checks for the Remainder of the Session

• The closing level of the S&P/ASX 200 for the 11 November 2026 session.

• The next monthly CPI-U release, for November 2026, scheduled for 10 December 2026.

• The October rates for shelter, food, energy and the index excluding food and energy.

Conclusion

The official October 2026 CPI-U rose 0.4% after a 0.6% increase in September, with shelter, food and energy all higher and the measure excluding food and energy up 0.3%. Most 12-month comparisons were not published because October 2025 data were not collected. The S&P/ASX 200 was at 9,117, about 0.1% lower, in intraday trade on 11 November 2026. Note- All data presented is based on information available at the time of writing.

Disclaimer for Kapitales Research

The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.

Customer Notice

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Disclosure: The information mentioned above has been sourced from the company reports and a third-party database, i.e. Koyfin. Investors are advised to use strict stop-loss to protect their investments in case of any unfavorable/uncertain market events.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au