Bitcoin stands tall as US inflation data surpasses market expectations

2023-9-13 15:38

Quick Take

The US Consumer Price Index (CPI) inflation data released today, Sept. 13, marked an uptick, outstripping the consensus forecast at 3.7%, a slight deviation from the predicted 3.6%. This unexpected surge in inflation underscores a potent macroeconomic environment with an escalating cost of living.

In parallel, core inflation, a measure that excludes volatile sectors like food and energy, dropped to 4.3%, matching market expectations. The parallelism of these two indices suggests a potential decoupling of core goods from the broader inflation trend, adding another layer of complexity to the inflation narrative.

Meanwhile, Bitcoin, a digital asset often viewed as a hedge against inflation, continues to hold its ground above $26,000. This stable performance amidst turbulent economic indicators adds to the growing intrigue surrounding the cryptocurrency’s role in diversifying investment portfolios in times of economic uncertainty.

Inflation: (Source: Trading Economics)

The post Bitcoin stands tall as US inflation data surpasses market expectations appeared first on CryptoSlate.

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inflation data predicted unexpected surge deviation forecast

Источник: cryptoslate.com

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