In April, there were signs of a slowdown in inflation in the United States, as indicated by the latest release from the Bureau of Labor Statistics. The Consumer Price Index (CPI), which is a key measure of price changes faced by consumers, showed a 0.3% increase compared to the previous month and a 3.4% increase compared to the same period last year. This growth represents a deceleration compared to the 3.5% annual and 0.4% monthly increases recorded in March.
The actual data exceeded the expectations of economists, who had predicted a 0.4% increase in the monthly CPI. Similarly, the annual increase aligned perfectly with the economic forecasts collected by Bloomberg.
When looking at the core CPI data, which excludes volatile price items such as food and energy, there was a 0.3% increase from the previous month and a 3.6% increase from last year. This result, compared to March, also indicates a cooling trend in prices, in line with analysts’ expectations.
Following the release of this data, the cryptocurrency market responded positively, with the price of Bitcoin rising to $64,200. This increase of 4% in the past 24 hours reflects the belief that more controlled inflation can alleviate pressure on financial markets, creating 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 other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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