U.S. CPI Data Has Minimal Impact on Cryptocurrency Market
Date: 2023-12-12 Author: Dima Zakharov Categories: IN WORLD
Stable Cryptocurrency Market
The most recent economic data concerning the United States' economy has not caused any significant fluctuations in the cryptocurrency market. The prices of major digital currencies have remained steady in the past few hours, with Bitcoin trading at $41,500 and Ethereum at $2,215 as of December 12, 2023.
Inflation Meets Expectations
The Consumer Price Index (CPI) for November 2023 in the United States has aligned with economists' predictions. The overall inflation rate has decreased to 3.1% from the previous month's 3.2%. The general CPI figure has risen by 0.1%, which is in line with expectations.
Steady Core Inflation
The core index, which excludes volatile food and energy products, has increased by 0.3% on a monthly basis, surpassing the expected 0.3% and the 0.2% recorded in October. The year-on-year core Consumer Price Index is 4% higher, in line with forecasts and the previous month's results.
