In April, there were signs of a slowdown in inflation in the United States, according to the latest report from the Bureau of Labor Statistics. The Consumer Price Index (CPI), which is a key measure of price changes for consumers, rose by 0.3% compared to the previous month and 3.4% compared to the same period last year. This represents a deceleration from the 3.5% annual and 0.4% monthly increase recorded in March.
The actual data exceeded economists’ expectations, who had predicted a 0.4% monthly increase in the CPI. Similarly, the annual increase matched the forecasts gathered by Bloomberg.
When looking at the core CPI, which excludes volatile items like food and energy, there was a 0.3% increase from the previous month and a 3.6% increase from last year. This result also indicates a cooling trend in prices compared to March, in line with analysts’ predictions.
Following the release of this data, the cryptocurrency market responded positively, with the price of Bitcoin rising to $64,200. This appreciation, representing a 4% increase in the past 24 hours, reflects the belief that controlled inflation can alleviate pressure on financial markets and create a more stable environment for cryptocurrency investments.
This news is particularly significant for investors and enthusiasts in the crypto sector, as it provides insight into how macroeconomic indicators can impact the cryptocurrency market. As the economic landscape continues to evolve, the relationship between economic data and movements in the cryptocurrency market remains a crucial point of observation and analysis.
Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment, or any other form of advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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