US Department of Labor reportedthat the consumer price index (CPI) in the US as of October in annual terms is 3.2% – this is lower than experts’ expectations of 3.3%. On a monthly basis, the figure did not change.
After the release of inflation data, the Bitcoin rate showed a slight increase. At the time of writing BTC trading near $36,600:
Analysts Investing noted that lowering inflation to 2% is the main goal of the Fed’s long-running series of interest rate hikes, so policymakers would likely be happy to see signs that price pressures are easing.
The core rate, which excludes food and energy, fell to 4.0% and 0.2% on an annualized and monthly basis, respectively.
In September, the CPI index in the United States in annual terms was 3.7%.
Also on November 1, 2023, the Fed left the interest rate at 5.25-5.5%.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
