US inflation rises coming in at expected 2.6%, Bitcoin breaks over $89,000 again

exchange68November 13, 2024

0 3 1 minute read

The US Bureau of Labor Statistics released October’s Consumer Price Index data today. The annual inflation rate increased to 2.6% from the previous 2.4%, aligning with forecasts. Month-over-month, the inflation rate remained steady at 0.2%, matching prior figures and expectations.

The Core Inflation Rate, excluding food and energy prices, remained at 3.3% year over year and rose by 0.3% month over month, consistent with consensus estimates. These figures indicate that underlying inflation pressures remain stable.

US CPI data October (Source: TradingEconomics)

Bitcoin rose 1.2% immediately after the data was released and is trading at $88,400 as of press time.

Analyst

Liam ‘Akiba’ Wright

Editor-in-Chief at CryptoSlate

Also known as “Akiba,” Liam Wright is a reporter, podcast producer, and Editor-in-Chief at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.

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