Bitcoin drops below $82,000 after U.S. inflation hits 3.7%
BTC when published $81,869Now $80,617 ▼ −1.53% since it was published
Hotter-than-expected U.S. inflation data rattled risk assets on Wednesday, and crypto was among the first markets to feel it. The Consumer Price Index (CPI), a government gauge of what Americans pay for everyday goods and services, rose 0.6% in September, according to the Bureau of Labor Statistics. That matched forecasts. But annual inflation climbed to 3.7% from 3.4% in August, above the 3.6% economists expected. Core CPI strips out volatile food and energy prices. It rose 0.3% on the month, against a 0.2% forecast. On an annual basis, it reached 2.6%, up from 2.4% in August. Related: Bank of America vows to fix compliance after $1.21B fine Rate-hike fears return The data complicates the Federal Reserve’s path.
First reported by TheStreet. This page is a short excerpt; the full text is theirs.
