U.S. Inflation Holds at 2.7% in July — Core CPI Rises
According to the Wall Street Journal, U.S. inflation stayed steady at 2.7% year-over-year in July, matching June's level. However, core CPI (excluding food and energy) jumped to 3.1%, signaling persistent underlying pressure. The data boosted expectations for a Federal Reserve rate cut in September, with markets now pricing in nearly a 90% chance.
Why it matters for crypto:
Continued inflation moderation supports the likelihood of rate cuts, which historically boost speculative assets like Bitcoin and altcoins.
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