The U.S. Bureau of Labor Statistics has released the latest Consumer Price Index (CPI) data, shedding light on the inflation trend for November. The report indicates a slight increase in CPI to 2.7%, aligning with forecasts and marking a steady path toward financial stability.
Cooling US CPI Inflation Data
The November inflation rate increased by 0.1%, bringing it to 2.7%, as expected by the forecasted 2.7%. This represents the second consecutive month of rising inflation, from 2.4% in Sept and 2.6% Nov in. Such a consistent rise suggests growing inflation in the US.
Experts predict that if inflation continues to rise at this pace, it might pave the way for a rising interest rate cut in December. This potential policy shift could expert burden on various sectors.
Core CPI Insights
Core CPI, which excludes the volatile categories of food and energy, ticked slightly higher to 3.3%, aligning with the expected 3.3%. While this marginal increase raises questions, the broader CPI figures highlight progress in tackling inflation.
Bitcoin’s Reaction to CPI Data
Bitcoin’s price has risen by 2%, reaching $98,859, after briefly surpassing $98,106. Its market cap now stands at $1.95 trillion.
Meanwhile, some analysts suggest that Bitcoin could test the $100,000 support level before regaining its upward momentum.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
FAQs
CPI data measures the change in the price of goods and services purchased by consumers, indicating inflation trends and cost of living adjustments.
The CPI data release today live reflects a 2.7% inflation rate for November, aligning with forecasts and offering insights into U.S. economic stability.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed