According to the results of October, annual inflation in the US amounted to 2.6% against 2.4% a month ago. The indicator corresponded to market expectations of 2.6%.
On a monthly basis, the consumer price index rose 0.2%, the same as in September. The consensus forecast was for a 0.2% increase.
The indicator, excluding food and energy prices, rose 0.3% compared to the previous month and 3.3% compared to October last year. In the previous report, the figures were 0.3% and 3.3%, respectively. Analysts expected September's pace to be maintained.
Prices for services excluding housing and energy rose 0.31% after rising 0.4% in September, 0.33% in August, 0.21% in July and falling 0.05% and 0.04% in May-June. The Fed noted the importance of the metric in analyzing the trajectory of inflation.
The release of macro statistics increased the daily growth rate of Bitcoin by 0.5%, to 3.8%. At the time of writing, the price of the asset approached $88,800. The Ethereum rate returned to $3,200, reducing daily losses to 1.2%.
"Expectations for the Fed's next rate decision are unlikely to be affected by today's report, as the central bank is currently relying more on employment issues," said Richard Flynn, managing director at Charles Schwab UK.
However, in the futures market, traders increased the probability of a 25 basis point rate cut at the December meeting from 58.7% to 72%.
The Labor Department will release its November job creation and unemployment report on December 6.
Earlier, Bernstein called for adding crypto assets to the investment portfolio “as soon as possible.” They recommended purchasing a basket of digital assets, including BTC, ETH, SOL, OP, ARB, POL, UNI, AAVE, and LINK.
Recall that the former head of BitMEX Arthur Hayes repeated the forecast of Bitcoin growth to $1 million.
