The post US Inflation CPI Data At 3.2% Causes New Prospects For The Market appeared on BitcoinEthereumNews.com.

Key Points: October’s US inflation CPI data rose 3.2%, slightly below the expected 3.3%. Core CPI, vital for Federal Reserve decisions, rises 0.2% monthly and 4.0% annually, below expectations. The core price index’s return to 0.2% in October prompted Fed interest rate speculation. In a recent announcement, the U.S. Department of Labor revealed that the Consumer Price Index (CPI) for October increased by 3.2% compared to the same period last year, slightly below the market’s anticipation of 3.3%. US Inflation CPI Data at 3.2%, Core Prices Below Expectations The monthly US inflation CPI data remained unchanged in October, maintaining the 0.4% rise observed in September. Notably, the annual inflation rate in October decreased from September’s 3.7%. Similarly, the core consumer price index, a crucial factor influencing Federal Reserve interest rate decisions, rose by 0.2% from the previous month and 4.0% from the same month last year, falling short of expectations. 970×90.gif (970×90) The core price index, which had seen slight expansions in August and September, returned to the 0.2% level in October. This movement is under close scrutiny as it could impact the Federal Reserve’s decision on interest rates. Federal Reserve’s Dilemma: Core Prices and Interest Rate Speculation Despite headline US inflation CPI data receding in recent months, it has consistently remained above the U.S. Federal Reserve’s 2% target. Additionally, the core rate has stubbornly stayed above 4% for several consecutive months. Federal Reserve members have hinted at the possibility of one more rate hike as part of a roughly 20-month monetary tightening cycle. Following the U.S. inflation announcement, the stock index futures of the New York Stock Exchange experienced a rapid increase in prices. Furthermore, Bitcoin prices also saw a slight uptick, with BTC currently trading above $36,500. Investors are closely watching these developments amid ongoing economic uncertainties. BTC…

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Filed under: News - @ November 14, 2023 5:12 pm