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

Share This Post

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)
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.

The post US inflation rises coming in at expected 2.6%, Bitcoin breaks over $89,000 again appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Trump’s Dollar Boom Spells Doom for Zambia’s Recovery

Zambia’s central bank governor, Denny Kalyalya, is sounding the alarm about the strengthening US dollar’s impact on Zambia’s economy A stronger dollar, fueled by Donald

Coincheck Makes History As 1st Japanese Crypto Exchange To Debut On Nasdaq

Coincheck, a company headquartered in Tokyo, is expected to become the first cryptocurrency exchange in Japan to list its shares on a US stock exchange Related Reading: Dogecoin Explodes 113% After

Societe Generale expands its stablecoin to Ripple’s XRP Ledger to drive further adoption

Societe Generale‘s crypto subsidiary, SG-FORGE, has announced plans to extend its EUR CoinVertible (EURCV) stablecoin to the Ripple-backed XRP Ledger (XRPL), according to a Nov 14 statement

Analysts Eye $50 For Avalanche As AVAX Jumps 28% – Details

Avalanche (AVAX) has been on a phenomenal upward trend as overall market optimism has buoyed it Recently, the token surpassed crucial resistance levels fueled by recent Federal Reserve rate cuts and

SEC Chair Gensler Sticks to Crypto Rules Despite Trump’s Threat to Fire Him

The post SEC Chair Gensler Sticks to Crypto Rules Despite Trump’s Threat to Fire Him appeared first on Coinpedia Fintech News Gary Gensler, the chair of the US Securities and Exchange

From Code to Riches: Satoshi Nakamoto Joins the World’s Billionaire Titans as 17th Richest

With bitcoin sitting comfortably at all-time highs, Satoshi Nakamoto, the elusive creator of the blockchain, now ranks between the 17th and 18th wealthiest entities worldwide, according to the Forbes