Bitcoin Remains Stable After Cooling US CPI Inflation Data

BTC prices remain stable as investors seem to have shaken off inflation concerns, especially after the latest US CPI data was released. It is worth noting that market participants eagerly await US CPI data, especially the recent US PPI data showing a surge in inflation that exceeded expectations.

Recent data from the US Department of Labor showed that the US Consumer Price Index (CPI) rose 0.3% in April, lower than the market's expectation of 0.4%. It is worth noting that the CPI increase was the same as the previous month. As a core data to understand the inflation level, the unadjusted US CPI rose 3.4% year-on-year, in line with market expectations.

Meanwhile, the core consumer price index (CPI), which excludes food and energy prices, rose 0.3% month-on-month, in line with Wall Street expectations. The core CPI rose 3.6% year-on-year after surging 3.8% last month.

It is worth noting that although inflation seems to be cooling, it is still above the Fed's 2% target range, weighing on global investor sentiment. In addition, it has also raised concerns about the central bank's policy rate plans to further strengthen its hawkish stance.

For context, the latest US PPI inflation data also exceeded market expectations. Subsequently, Fed Chairman Powell reiterated the central bank's position through a rate hike plan. Ambush potential coins in advance, click on my avatar to find me. Welcome to like, follow, collect and forward. #CPI数据 #cpi