The Bureau of Labor Statistics released the eagerly awaited US Consumer Price Index (CPI) data today, which showed that the U.S. inflation rose 3.1% in November. Meanwhile, the market was also anticipating the data to show a further softening of inflation, reinforcing the belief that the Federal Reserve will maintain interest rates in its year-end meeting.
The global financial market, especially the crypto market, has been highly volatile this week, due to speculations over U.S. CPI data. Meanwhile, the investors have stayed on the sideline this week and put a pause before making further bets in the volatile market.
US Core CPI Advances 4% In November
The latest Labor Department data revealed a 0.1% advancement in US inflation for November, in line with the market anticipation. The all-items index rose 3.1% annually, which comes in tandem with the market anticipation and down from a 3.2% surge noted in October.
Meanwhile, the Core CPI, excluding food and energy, saw an increase of 0.3%
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