How Does This Latest US Inflation News (CPI at 2.7%) Reflect at The Crypto market?

Dec 11, 2024 06:00 pm Cryptocurrency 77

Key Takeaways:

The U.S. consumer price index was up 2.7% year-over-year for November, above the Fed’s target of 2%.

Markets currently expect a rate cut of 0.25 percentage point in the forthcoming meeting.

The positive news on the CPI resulted in a crypto market where several tokens rose in price.

US November CPI and Its Impact on the Markets

The US consumer price index increased by 0.2% from the previous month, according to the latest November CPI data released, in line with economists’ expectations. The core also jumped 0.3% MoM and kept steady its YoY rise at 3.3%. Although it’s far below almost 9% in June 2022, the newest figures indicate that the inflation pace stabilizes above the Fed target ..

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