#CryptoCPIWatch
U.S. inflation data (Consumer Price Index - CPI) was released today.
Annual Consumer Price Index (CPI): Recorded at 2.3%, which is lower than the expectations of 2.4%, and lower than the previous reading of 2.4%.
Monthly Consumer Price Index: Recorded at 0.2%, against expectations of 0.3%, while the previous reading was -0.1%.Impact on the market.
The reading indicates a slight decrease in inflation compared to expectations, which may influence the Federal Reserve's monetary policy outlook. Some sources indicate that inflation at 2.9% annually may be a watch point, as a reading above 3.0% may prompt the Fed to maintain a hawkish stance, which could negatively impact cryptocurrency prices like Bitcoin$BTC , while a lower reading could support price increases.
