Bitcoin Rises as US CPI Lands Lower Than Market Expectations
BeInCrypto
Bitcoin's price increased after the US September CPI report showed annual inflation at 3%, slightly below the expected 3.1%.Summary
The US Bureau of Labor Statistics (BLS) released its September Consumer Price Index (CPI) report, revealing that annual inflation hit 3.0%, which was slightly lower than the 3.1% anticipated by economists. This figure follows the August CPI reading of 2.9%. The CPI measures changes in the cost of everyday goods and services, reflecting inflation and the cost of living. This data release is particularly critical as it is the only major economic indicator the Federal Reserve will consider before its next policy meeting on October 29, especially given the ongoing US government shutdown which has halted other key data releases. In the aftermath of the lower-than-expected inflation figures, the price of Bitcoin (BTC) rose.
(Source：BeInCrypto)