US Inflation Reaches 3.7% as Bitcoin Falls After CPI Report
September consumer prices rose faster annually than economists expected, while bitcoin fell $1,000 after the report, according to CoinDesk.
Key takeaways
- September CPI rose 0.6% monthly and 3.7% over 12 months.
- Bitcoin fell $1,000 after the inflation report, according to CoinDesk.
U.S. consumer prices rose 0.6% in September, putting annual inflation at 3.7%, the Bureau of Labor Statistics reported Wednesday. The annual rate exceeded economists’ 3.6% forecast, while the monthly increase matched expectations.
Core CPI, which excludes food and energy, rose 0.3% for the month and 2.6% over the year. Both figures were above economists’ forecasts of 0.2% and 2.5%, respectively.
Bitcoin fell $1,000 after the report and was trading at $82,800, CoinDesk reported. The outlet said the hotter inflation figures might put an October Federal Reserve rate increase back on the table.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
