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Bitcoin and Gold Prices Crash As Core CPI Runs Hot
US inflation delivered a mixed signal in August, with headline consumer prices matching expectations while underlying inflation came in hotter than economists forecast.
Bitcoin and Gold prices crashed in the immediate aftermath as the data adds fresh uncertainty for investors watching the Federal Reserve’s next policy move.
August CPI Report Shows Core Inflation Sticky
The US Consumer Price Index (CPI) rose 0.4% month-over-month in August, matching market expectations, while annual inflation climbed 3.4% year-over-year, also in line with forecasts.
However, the closely watched core CPI measure, which excludes volatile food and energy prices, increased 0.3% month-over-month, above the 0.2% expected increase. Core inflation remained at 2.4% annually, matching forecasts.
The hotter monthly core reading may keep pressure on the Fed as policymakers assess whether inflation is continuing to ease enough to justify further interest-rate cuts.
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The post Bitcoin and Gold Prices Crash As Core CPI Runs Hot appeared first on BeInCrypto.
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