The numbers for July’s Consumer Price Index are here. The market has failed to react as Bitcoin’s price recorded an ever-so-slight uptick in volatility before calming back down almost immediately.
- The Bureau of Labor Statistics of the United States has just revealed the rate of July’s Consumer Price Index.
- To those unaware, it’s the metric that many people use to gauge the rate of inflation in the country.
- Per the announcement, the Consumer Price Index for All Urban Consumers increased by 0.2%, seasonally adjusted.
The US #CPI Numbers for July are in:
-> CPI +3.2% YoY (EST. +3.3%)
-> CORE CPI +4.7 % YoY (EST. +4.8%)This time, the news did not drive much movement, with $BTC barely climbing by $50! pic.twitter.com/jwUXDHsygk
— CryptoPotato Official (@Crypto_Potato) August 10, 2023
- This adds up to 3.2% over the past 12 months, not seasonally adjusted.
- The index for all items, excluding food and energy, also increased by 0.2%.
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Source: https://cryptopotato.com/bitcoin-unfazed-as-cpi-for-july-increases-by-0-2-mom/