The US Bureau of Labor Statistics just released its Consumer Price Index data for September, showing inflation falling to 2.4%! While expectations were for 2.3%, this slight mismatch still suggests that inflation is falling, potentially leading to changes in financial markets.
🔻 Bitcoin reacts with a slight decline
Following this CPI update, Bitcoin saw a slight decline, falling below $61,000. Despite the positive inflation trend, the cryptocurrency market remains cautious as investors await more clarity.
📉 Consumer price index continues to slow
The 2.4% inflation rate in September marks the sixth consecutive month of decline, down from 2.5% in August and 2.9% in July. This continued decline in inflation shows a positive trend of slowdown in the financial sector, bringing hopes for further stability.
📊 Core CPI Fails to Meet Expectations
While inflation eased, core CPI (which excludes food and energy) rose slightly to 3.3%, below the 3.2% expected. Experts suggest this slowdown could lead to a rate cut in October, providing relief to consumers and investors alike.
🌐 What's next for the market?
With inflation easing and Bitcoin seeing a slight reaction, crypto and financial markets are closely watching the Fed’s next move. Could this declining inflation signal a future bullish rally for crypto? Only time will tell!
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