The post US CPI Report Update: Inflation Rate Rises To 3.2% – Bitcoin Price Trading Below $30K appeared first on Coinpedia Fintech News
The recent report from the Bureau of Labor Statistics has indicated a slight increase in US headline inflation for the month of July, marking a rise of 0.2% from the previous month. This development strengthens the case for the Federal Reserve to maintain steady interest rates at its upcoming meeting in September.
The year-over-year increase in headline inflation is now at 3.2%, up from the annual rate of 3% in June. However, this uptick in the annual headline rate may not significantly impact the market, as inflation during the same period last year was notably soft.
The shift in headline inflation is noteworthy, considering it peaked at 9.1% in the previous summer. The recent movement towards the Federal Reserve’s 2% target suggests a positive trajectory.
Crypto traders should stay cautious
Traders and investors may be inclined to take on more
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