The latest Consumer Price Index (CPI) figures released by the United States have exceeded expectations, signaling a robust inflationary trend that could significantly influence the Federal Reserve’s forthcoming monetary policy decisions. The Bitcoin and crypto markets reacted with a swift downtrend. The BTC price initially dropped by 2.7%, falling below $67,200. Altcoins have reacted even more strongly to the data.
The non-seasonally adjusted CPI for March 2024 soared to an annual rate of 3.5%, surpassing both the anticipated figure of 3.4% and February’s rate of 3.2%, marking the highest inflation rate since September 2023. This uptick reflects not just a transient economic fluctuation but a deeper, more sustained inflationary pressure within the economy.
The details of the CPI report reveal that both the headline and core inflation rates, which exclude volatile food and energy prices, increased by 0.4% month-over-month. This uniform rise underscores a pervasive infla
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