September CPI Higher Than Expected, Bad News for #Bitcoin
Last night, the US Department of Labor released its report on CPI and September inflation:
- CPI rose 2.4%, 0.1% higher than expected.
- Core CPI (excluding food and energy prices) rose 3.3%.
- US inflation rate continues to decline, currently at 2.4%.
The monthly inflation rate in September fell to its lowest level of the year, indicating positive signs of the FED's price control policy, but the core CPI increased compared to September, indicating that underlying inflationary pressures still exist.
The price of #Bitcoin fell below $59,000 after the news. BTC has now recovered slightly and is trading at $60,900.
