US Inflation Data Comes In Line With Expectations at 2.3%, Bitcoin Climbs To $95K

The US PCE inflation data has come out in line with expectations. Inflation rose by 2.3% year over year (YoY). Meanwhile, US inflation increased by 0.2%, similar to the September data. The Core PCE data, which excludes food and energy, showed that inflation increased by 2.8% YoY, which is in line with estimates and up from the 2.7% recorded in September. Core PCE rose 0.3% Month on Month. The annualized quarterly rate of real GDP in the Q3 was revised to 2.8%, in line with expectations. Following the release of the US inflation data, the Bitcoin price climbed back above $95,000.