#BTCReclaims101K US PPI Inflation Accelerates 3%, What’s Next For Crypto Market?
The latest Labor Department data showed that the US PPI inflation comes in hotter-than-anticipated at 3%, dampening hopes of crypto market enthusiasts and over the anticipated Fed rate cut ahead.
The US PPI comes in hotter-than-anticipated at 3% in November.
The recent surge marks the largest increase since February 2023.
The Core PPI also accelerates to 3.4% as compared to market expectations of 3.2%.
Investors eagerly awaited the crucial US Producer Price Index (PPI) data, especially after the recent CPI inflation accelerated last month. Notably, the latest data showed that the US PPI accelerates at 3%, up from the 2.4% figure noted in October. The surge also exceeded market forecasts, dampening the hopes of the crypto market enthusiasts. Besides, it also sparked concerns regarding the anticipated Fed rate cut at the upcoming FOMC next week.