Market Highlight 15.10.2026

According to the U.S Department of Labor, consumer prices rose by 3,7% in September from a year earlier, accelerating from 3,4% in August. There were signs that elevated energy prices are beginning to spill over into other areas of the world’s largest economy. Prices excluding food and energy, known as core inflation, increased by 2,6%, above the forecast of 2,5%. Airfares, which are highly sensitive to fuel prices, surged by 22% compared with the same period in 2025. Prices of used cars and trucks rose by 0,7% from the previous month, higher than the 0,4% increase recorded in August. Prices of products such as clothing and toys, which are often manufactured using petrochemical-based materials, also edged higher.
Markets viewed the September CPI report as a concerning sign that the Iran war is creating more than just a temporary price shock and that elevated inflation could persist unless the

Federal Reserve takes action. The report raises two key questions for FED officials at upcoming meetings. The most important is whether the FED should wait until December before raising interest rates again, after recently signaling that it does not expect to take action at its late-October meeting. The probability of a FED rate hike on 28/10 surged to 50% following the CPI release. The second question is how high interest rates will ultimately need to rise. That will depend on whether pressures from elevated energy prices and the artificial intelligence investment boom spread more broadly across the economy.

The USD Index surged to an 18-month high following the U.S CPI data before easing toward the end of the session as markets considered that the FED typically avoids adjusting interest rates in the month preceding a U.S election. Domestically, interbank USD/VND edged lower by around VND 20 and closed Wednesday at 25.900.

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